Estate planning is the process of anticipating and arranging for the disposal of an estate. Many of us think that this type of planning is only for the wealthy. This couldn’t be further from the truth! Estate planning applies to all of us, and we should all engage in some level of planning. It is very important to have a plan to manage your health and financial decisions should you find yourself in a situation where you are unable to do so; and to be able to ultimately distribute your property to chosen heirs and beneficiaries in a manner YOU so wish quickly, privately and cost-effectively (by avoiding the probate process!).
As a MCCU member, you have access to a discounted Estate Plan, prepared by experienced attorneys!
What is a Living Trust?
Trusts are legal mechanisms that allow you to put conditions on how and when your assets will be distributed upon your death. They also allow you to reduce your estate taxes and to distribute assets to your heirs without the cost (approximately 8% of the gross value of your estate), delay (9 months – 2 years) and publicity of probate court, which administers wills. Some also offer greater protection of your assets from creditors and lawsuits. A trust allows you to name a successor trustee, who not only manages your trust after you die, but is empowered to manage the trust assets if you become unable to do so.
Want to learn more?
As a benefit of your MCCU membership, you can join us for a FREE seminar to learn more about the importance of estate planning and find out if an Estate Plan is something you need!
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