Over 68% of all Americans over 18 years of age and up do not have a will and testament. A Will is a legal document that sets forth your wishes regarding the distribution of your property and the care of any minor children and pets. If you die without a will, those wishes may never be carried out not to mention it can cause massive issues with siblings and families fighting over assets. Further, your heirs may end up spending additional time, money and emotional energy to settle your affairs after you're gone while its stuck in probate being leached on by the courts and estate attorneys. contains your direct wishes for your property and assets, as well as the care of your dependents.
There is no single document that will likely resolve every issue that arises after you pass, however a Last Will & Testament can come pretty close if you are not able to afford proper asset Protection. We want everyone to have access to this and is why we are offering this to anyone who wants and needs a Will & Testament.
When it comes to asset protection and Trusts, many people think that only the wealthy can have Trusts. This couldnt be further from the actual truth. ITs 100% a Myth as Trusts are used by the wealthy all the time but its also for any average person who has over $100,000 in assets such as a personal home with equity. Now Trusts can be expensive as there are many different type of trusts out there so its important to understand which one is right for you and your situation which is what we do here at Obsidian Wealth Management, LLC and DoWhatTheWealthyDo.com, as we setup Asset Protection plans and trusts for our clients based on their specific needs, however a Will & Testament is a great start and is something we always have our clients obtain no matter if they work with us on Asset Protection side or not. Now let's dive into some Pros & Con's of a Will and Testament.
You avoid having the probate courts rob you of your hard earned dollars and assets that are to go to your beneficiaries
You can keep your assets out of the hands of people you don't want to have them (like an estranged or disgruntled relative.)
You can identify who should care for your children. Without a will, the courts will decide who takes care of your children.
You can identify who should care for your pets and how much money will be allocated for them for food, vet bills ect.
Your Heirs will have a faster and easier time getting access to your assets that were left for them.
You can plan to save your estate money on taxes. You can also give gifts and charitable donations, which can help offset the estate tax.
You have ZERO asset protection with a Will and Testament
You still have to go through Probate where the courts will charge your estate to clear assets according to your will
You can keep your assets out of the hands of people you don't want to have them (like an estranged or disgruntled relative.)
You can identify who should care for your children. Without a will, the courts will decide who takes care of your children.
Your Heirs will have a faster and easier time getting access to your assets that were left for them.
You can plan to save your estate money on taxes. You can also give gifts and charitable donations, which can help offset the estate tax.
CON: You have ZERO asset protection with a will and testament
CON: You still have to go through Probate where the courts will charge your estate to clear assets according to your will
Why Are You Giving This Away For Free?
Do I still need a Will & Testament if I decide to do Asset Protection with OWM?
Why does 68% of Americans not have a Will & Testament?
What would this cost me to do through an attorney?
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