{"id":22440,"date":"2020-07-06T11:34:03","date_gmt":"2020-07-06T11:34:03","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=22440"},"modified":"2023-09-13T09:13:16","modified_gmt":"2023-09-13T09:13:16","slug":"the-benefits-of-estate-planning-protecting-your-legacy","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/the-benefits-of-estate-planning-protecting-your-legacy\/","title":{"rendered":"The Benefits Of Estate Planning: Protecting Your Legacy"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p><span style=\"font-weight: 400;\">Protecting assets is often not the first priority for most homeowners as more immediate instances require attention, such as vacation planning and saving for a new car. However, if you have recently <\/span><span style=\"font-weight: 400;\">purchased a home<\/span><span style=\"font-weight: 400;\">, <a href=\"https:\/\/www.pricebailey.co.uk\/blog\/the-importance-of-life-and-estate-planning\/\">end-of-life planning<\/a> should be a priority as you must protect your legacy. Even though many homeowners assume that estate planning is an effort intended for the mega-wealthy, anyone who owns a home with various assets should opt for estate planning. The following explains the benefits.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Protect The Best Interests Of Your Beneficiaries\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">High net-worth individuals are not the only individuals who should consider consulting an <\/span><span style=\"font-weight: 400;\">estate planning attorney,<\/span><span style=\"font-weight: 400;\"> as the effort will protect the best interests of your beneficiaries. Middle-class families often need to plan for the loss of the household&#8217;s breadwinner. Regardless of the value of the home that you will be leaving behind or the number of assets, you will need to control what happens to them after you are gone.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The main element of estate planning is assigning heirs to receive your assets in the future, which is why you should consider this effort as vital as having a <\/span><a href=\"https:\/\/www.investopedia.com\/articles\/pf\/08\/what-is-a-will.asp\"><span style=\"font-weight: 400;\">last will and testament<\/span><\/a><span style=\"font-weight: 400;\"> drafted. Whether you need to plan for the handing down of a property or a stock portfolio, planning is crucial for protecting beneficiaries.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Avoid Tax Issues<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There\u2019s no doubt your interest lies with your loved ones, which is why you should consider protecting them from potential impending tax issues. Transferring assets to beneficiaries will be handled in a manner that reduces the total tax owed on the estate. Inheritance tax and transfer tax can be a significant concern for heirs, especially if they are unaware of the process; it may be an unsettling shock.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Eliminate Family Disputes<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The passing of a loved one is an undeniable challenge that leaves emotional marks on those left behind. Often, family members left behind feel overwhelmed with the specifics of the estate in question, and family disputes become an unpleasant reality. While some may shun the idea of estate disputes, there are many situations where it makes perfect sense for loved ones to insist on specific actions. However, this situation is always best avoided, especially if you hope <\/span><a href=\"https:\/\/www.thebalance.com\/what-are-probate-assets-an-overview-3505271\"><span style=\"font-weight: 400;\">your assets<\/span><\/a><span style=\"font-weight: 400;\"> are divided equally and appropriately among your chosen beneficiaries.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">When To Opt For Estate Planning<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">While many of us may assume that estate planning is an effort that can be pushed aside until later years, hardly anyone can predict untimely death. Therefore, if you own a property, stock portfolio, or other relevant assets, you should opt for estate planning as soon as possible. You can adjust later and modify your estate plan should the need arise, so it is best to protect your legacy and the future of your loved ones at the soonest possible opportunity.<\/span><\/p>\n<h6><span style=\"color: #999999;\">Ref: 3462.30579<\/span><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Protecting assets is often not the first priority for most homeowners as more immediate instances require attention, such as vacation planning and saving for a new car. However, if you have recently purchased a home, end-of-life planning should be a<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/the-benefits-of-estate-planning-protecting-your-legacy\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":29628,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[16],"tags":[],"wl_entity_type":[602],"modified_by":"Editor","_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2023\/08\/image1-3.png","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/the_benefits_of_estate_planning__protecting_your_legacy","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/22440"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=22440"}],"version-history":[{"count":2,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/22440\/revisions"}],"predecessor-version":[{"id":29668,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/22440\/revisions\/29668"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/29628"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=22440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=22440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=22440"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=22440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}