"Estate planning" is a process to consider alternatives for, to think through, and to set up legally effective arrangements that would meet your specific wishes if "something happens" to you or those you care about.
Good estate planning is likely more than just a simple Will. Estate planning also typically minimizes potential taxes and fees. It makes "taking care of business" easier for your heirs. It sets up contingency planning to make sure your wishes regarding health care treatment are followed.
On the financial side, a good estate plan coordinates what would happen with your home, your investments, your business, your life insurance, your employee benefits (such as a pension or 401(k) plan), and other property in the event you became disabled or when you die.
On the personal side, a good estate plan includes directions to carry out your wishes regarding health care matters, so that if you ever are unable to give the directions yourself, someone you select would do that for you and know when you would want them to authorize "heroic measures" and when you would prefer they take you off life support.
In short, your legacy includes whether and how you make what your heirs need to do easier and better for them.
Arthur J. Glassman Law Office, PLLC
4800 Wells Fargo Center
90 South Seventh Street
Minneapolis, MN 55402
phone: 952-746-9090 fax:952-960-0213