There are big life events, like a death or major injury, that often trigger someone to begin the process of estate planning or disability planning, but Warner Norcross + Judd Partner Danelle Harrington reminds us we don’t have to wait until then to create a plan.
Harrington, who concentrates her practice in estate planning, estate administration and business succession planning, told Midland Daily News she doesn’t recommend waiting when it comes to estate planning. In fact, she highlights some legal documents that should be done as soon as somebody turns 18 and then revisited periodically as circumstances change.
Harrington cautions there is no one-size-fits-all approach to estate planning. Whether to have a will or a trust and who to choose as executor depends on each client's goals, objectives and stage of life.
“Number one, do they want to avoid the probate process or not?” she told the publication. “Number two, what types of assets do they have and what it the value of those assets? Number three, who are they distributing their assets to?”
Warner’s Trusts and Estates Practice Group is a diverse, multigenerational team who advise individuals, couples, families, fiduciaries, family-owned businesses, family offices and foundations on a full array of sophisticated trust, estate, tax, control, succession, asset protection and related matters.
You can read the entire article on OurMidland.com.
