Top 5 Estate Planning Services You Need to Protect Your Assets

When it comes to securing your financial future, estate planning services are indispensable. Whether you're looking to protect your assets, provide for your loved ones, or ensure your wishes are honored, having a comprehensive estate plan is crucial.

For legal assistance, call McElligott Ewan & Hall at (816) 833-1222. To learn more, here are the top five estate planning services you need to protect your assets.

1. Wills and Trusts

Creating a will or trust is the cornerstone of any estate plan. A will outlines how your assets will be distributed after your death, while a trust can help manage your assets during your lifetime and beyond. Trusts offer additional benefits such as avoiding probate, reducing estate taxes, and providing for minor children or beneficiaries with special needs.

2. Power of Attorney

A power of attorney (POA) is a legal document that grants someone you trust the authority to make decisions on your behalf if you become incapacitated. There are different types of POAs, including financial and medical. Having a POA ensures that your financial affairs and healthcare decisions are handled according to your wishes, even if you are unable to communicate them yourself.

3. Healthcare Directives

Healthcare directives, also known as living wills or advance directives, allow you to specify your preferences for medical treatment in case you are unable to make decisions for yourself. This includes decisions about life-sustaining treatments, organ donation, and pain management. Having a healthcare directive in place can provide peace of mind for you and your loved ones, knowing that your medical wishes will be respected.

4. Beneficiary Designations

Beneficiary designations are an often-overlooked aspect of estate planning. These designations determine who will receive assets such as life insurance policies, retirement accounts, and payable-on-death accounts. It's important to regularly review and update your beneficiary designations to ensure they reflect your current wishes and circumstances.

5. Estate Tax Planning

Estate tax planning involves strategies to minimize the taxes that may be owed upon your death. This can include gifting strategies, charitable donations, and setting up trusts. Effective estate tax planning can help preserve more of your wealth for your heirs and reduce the financial burden on your estate.

Secure Your Legacy

In conclusion, having a comprehensive estate plan is essential for protecting your assets and ensuring your wishes are honored. By incorporating these top five estate planning services, you can safeguard your financial legacy and provide for your loved ones.

Why McElligott Ewan & Hall is Your Top Choice

Choosing McElligott Ewan & Hall for your estate planning needs ensures you receive personalized, expert legal guidance. With decades of experience, our team of skilled attorneys specializes in a wide range of services, including wills and trusts, special needs trusts, durable powers of attorney, and probate and estate administration.

We provide comprehensive and reliable legal solutions tailored to your unique circumstances. Our commitment to client satisfaction and attention to detail makes us a trusted choice for individuals seeking to protect their assets and secure their financial legacy.

Get Expert Estate Planning Help in Kansas City, MO

If you're in Kansas City, MO, and need expert guidance on estate planning services, contact McElligott Ewan & Hall today (816) 833-1222 to get started!