Estate Planning Gaps That One Must Know to Avoid Any Error
An estate planning is basically the distribution of your wealth according to a Will or a set of instructions. Your personal representative carries out these protocols in the event of your death. One must carry out the process in a manner that it reduces the possible tax burden on your loved ones. Usually, when an individual dies without a Will, Intestacy laws governs their property. This complicates the distribution of assets. To avoid this, it is best if a family identifies the best estate plan for them. It is reflective of their intentions and their motive. However, due to Probate being such a tedious and confusing process, one should keep in mind the gaps their estate plan has. They could