Why Estate Planning is For Everyone, Including You

Many people think estate planning is only for the rich, but that is not the case. If you have people you love or property you value, an estate plan can be a smart choice.

Estate planning gives you control. You decide what happens to your assets, your children, and your healthcare choices if you cannot make decisions for yourself. If you do not have a plan, state laws may make these decisions for you. This could result in outcomes that don’t match your original wishes.

An estate plan can be beneficial in many ways. For example:

• Parents can use a will or trust to name guardians for their minor children. This ensures the people you trust most will care for them.
• Homeowners can use a plan to help avoid legal delays and protect the equity they’ve worked hard to build.
• Blended families can use an estate plan to ensure every family member receives an intended inheritance and to help keep peace among relatives.
• Single adults can benefit from documents like a power of attorney or a healthcare directive. These allow you to choose someone to make decisions for you if you become unable to do so.
• Anyone with sentimental property, like a family heirloom or a small business, should state their wishes clearly to avoid future disagreements.

Estate planning isn’t about the amount you own. It’s about making sure what you have goes to the people and places you choose. Creating an estate plan is a meaningful way to protect the people who matter most to you. Contact your Federated Insurance^® marketing representative today to connect you with independent estate planning resources.

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This article is for general information and risk prevention only and should not be considered an offer of insurance or legal, financial, tax, or other expert advice. The recommendations herein may help reduce, but are not guaranteed to eliminate, any or all losses. The information herein may be subject to, and is not a substitute for, any laws or regulations that may apply. This information is current as of its publication date and is subject to change. Some of the services referenced herein are provided by third parties wholly independent of Federated. Federated provides access to these services with the understanding that neither Federated nor its employees provide legal or other expert advice. All products and services not available in all states. Qualified counsel should be sought with questions specific to your circumstances. All rights reserved.