by Laura Kocum
on Thursday, April 6th, 2017 at 9:20am.
When is the best time to start your estate planning? Age 18. The reality for most people is that this planning doesn’t happen until much later, but Bob Nennig of Nennig Law Offices, LLC can help clients of all ages prepare for the future. Nennig knows that most clients aren’t experts on estate planning. He prides himself in walking them through the process, explaining the options, and making sure that they are both pleased and protected by the final results. You don’t have to be exceptionally wealthy to make plans. If you own a home and have a retirement plan, you're ready to make an estate plan.
Estate planning is different from financial advice. It is designed to look at your assets and then create the best possible way to share them with your loved ones, upon your death or at a time when you are incapacitated. Having the plan in advance protects you, your loved ones, and your assets from unnecessary wait times, court fees or other situations that could delay the transfer. It's really a matter of having the right paperwork in place, and the proper decisions made now, so that you avoid confusion or unnecessary delays when the time comes to use those plans.
For example, how you title your home can make a significant difference in the way it is inherited. If you have a will, the home will only be given to the other person on the title, or to your dependents, after it has gone through probate proceedings. If you have a Revocable Living Trust, and your home is titled to the trust, then the transfer of ownership is immediate, and does not require a delay due to probate. This can save both time and money, as you avoid needing to schedule court hearings, and paying court-related fees.
Nennig works to make sure that your plan requires the least amount of hassle to implement when it's needed. He helps clients have all the right pieces in place, and he makes sure that your plan is fully funded, so there are no surprises in the end.
People are often intimidated by estate planning. Nennig wants to make it an easy process. He offers a free consultation to discuss your options, and to let you know all fees in advance. There is no obligation when you have this meeting. At the end of the meeting, you'll know exactly what to expect, and you can decide if you're ready to create a working plan.