5 estate planning goals for 2019

Now that 2019 is here, you may be thinking about your future more intently. Your New Year resolutions may include goals involving your health, relationships, work and family. Are you thinking about your estate plan

The New Year is the perfect opportunity to start thinking about your estate plan and putting it into place. Here are some essential planning goals you should work towards achieving this year.

1. Provide for the ones you love

The most crucial objective of estate planning is to ensure your family members and close friends receive your money and property. You may especially want to make sure your spouse, children and grandchildren have what they need from you when you pass away. Let this be a motivating factor in creating a comprehensive estate plan in 2019.

2. Prevent disputes

There is always a chance your heirs may squabble over their inheritance once you die. However, you can help your loved ones avoid this by enacting a stringent estate plan. If you create clearly-worded documents, communicate your wishes and update your plan consistently, your beneficiaries have a better likelihood of accepting the outcome. The last thing you want is the people you love to argue or even file lawsuits over your estate. 

3. Have a smooth administration process

When you pass, you do not want your heirs to wait through a lengthy process to receive what you leave for them. You can expedite the transfer of your estate by choosing a trustworthy executor and devising a strategy to avoid probate as much as possible. 

4. Minimize taxes

Depending on the size and contents of your estate, it may be subject to estate and income taxes. If you structure your estate properly, you may be able to reduce or even avoid some of these liabilities. 

5. Create peace of mind during incapacity

Estate planning is not just about the certainty of death, but also about the possibility of incapacity. If an illness or accident leaves you unable to make your own decisions, you can designate an agent by creating a power of attorney.

No Comments

Leave a comment
Comment Information

Do You Need Legal Help?

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Firm Information

Brudvik Law Office

Mayville Office
231 9th Avenue SE
P.O. Box 547
Mayville, ND 58257

Phone: 701-786-6177
Fax: 701-788-4243
Mayville Law Office Map

West Fargo Office
730 13th Ave E
West Fargo, ND 58078

Phone: 701-786-6177
Fax: 701-788-4243
West Fargo Law Office Map

Finley Office
300 Central Avenue
Finley, ND 58230

Phone: 701-786-6177
Fax: 701-788-4243
Map & Directions

Hillsboro Office
1 N Main Street
P.O. Box 847
Hillsboro, ND 58045

Phone: 701-786-6177
Fax: 701-788-4243
Map & Directions

Grand Forks Office
2810 19th Ave S
Grand Forks, ND 58201

Phone: 701-786-6177
Fax: 701-788-4243
Map & Directions

Chandler Office
3185 S Price Rd
Suite 7
Chandler, AZ 85248

Phone: 701-786-6177
Phone: 480-374-1651
Fax: 701-788-4243
Map & Directions

Fargo Office
203 8th Street S.
Fargo, ND 58103

Phone: 701-786-6177
Fax: 701-788-4243
Map & Directions