Estate Planning

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Estate Planning

No matter what stage of life you are in, it is never too early to get educated about and consider the benefits of estate planning. Estate plans are not only about protecting valuable possessions or leaving a legacy for your heirs. Estate planning is a means of organizing an estate to meet the need of the entire family as efficiently and economically as possible. When the right strategy is in place, an estate plan can help cover the ongoing expenses and special needs of your child or other family member that are left here on earth in the event that something happens to the primary caregiver. Life insurance is a popular and effective tool to help meet estate planning goals. For many of us life insurance is the only way that we can leave a large lump sum for the future by making small monthly payments. It is also one of the few guaranteed, methods of funding a trust. A paid up life insurance policy is a trust that will guarantee future funds. People who have young children or special needs children worry about the future of those children. A parent is able to create a special needs trust using life insurance to insure that there child is taken care of. This is a common and effective way for parents to make sure their children are cared for. By Leaving money to a trust and not to their special needs children, parents can supplement government benefits to their children. An estate plan can help cover ongoing expenses and special needs of your child or other family member in the event that something happens to the primary caregiver. http://www.estateplanning.com/What-is-Estate-Planning/
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