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Anderson, Dorn & Rader, Ltd.
Home » Estate Planning » Who Needs Estate Planning?

Who Needs Estate Planning?

November 5, 2010 by Gerald M. Dorn, Estate Planning Attorney

When you are busy living your life you may not think too much about your estate and how you would like your assets distributed. If it does cross your mind, you may recognize the fact that you do need to engage in estate planning at some point in time, but feel as though it is too soon to concern yourself with it. That is a mistake. As soon as you are a self supporting adult you should have a basic estate plan in place, and if you have children, it is all the more important.

The Importance of Estate Planning

One misconception that many people have is that they don’t need to engage in estate planning because they either don’t have significant assets, or because they intend to simply leave everything to their spouse. In either instance, you still need an estate plan because there is more to estate planning than the transference of assets. If you have dependent children, there is the matter of guardianship. If you and your spouse where to pass away together in an accident, who would take care of the children? You need to state your wishes in that regard in your will.

Incapacity Planning

Incapacity planning through the execution of an advance health care directive is another matter that needs to be addressed that has nothing to do with the distribution of your assets. If you were to become unable to do so, who would you choose to make medical decisions on your behalf? What medical procedures would you like to allow, and which would you prefer to deny in the event of your incapacity? These are questions you can answer by executing a durable medical power of attorney and a living will.

Reno Estate Planning Attorney

The message here is that everyone, regardless of age or financial situation, needs to have an estate plan in place because even though you will be gone, your loved ones who remain need to know your wishes. Work with the estate planning attorneys at Anderson, Dorn & Rader. Call (775)  823-9455 or fill out the contact form below.

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Gerald M. Dorn, Estate Planning Attorney
Gerald M. Dorn, Estate Planning Attorney
Gerald Dorn is a shareholder and has been a partner at Anderson, Dorn & Rader, Ltd. Since 1998. Mr. Dorn has extensive experience serving wealthy families and business owners in the development of estate, tax and asset protection planning strategies. He made the decision to focus his practice in the area of estate planning after witnessing the personal grief and financial loss suffered by several of his clients as a result of poor planning. These experiences motivated him to dedicate his professional life to assisting his clients to preserve their life’s work for their heirs and to create a lasting legacy for those they love. Mr. Dorn is able to accomplish his mission through the use of a vast number of estate planning tools, both basic and advanced, for all of his clients at Anderson, Dorn & Rader, Ltd.
Gerald M. Dorn, Estate Planning Attorney
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