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When it comes to planning for estates and trusts, many people in Litchfield, CT, remain in the dark about proper procedures. To this end, Dianne M. Saunders, CPA provides the benefit of 25 years of experience to local clients faced with complex estate planning issues. The right knowledge is crucial when it comes to creating your estates and trusts plan, whether you are just starting out or are nearing retirement age.

3 Aspects of Estates & Trusts Planning

Everyone Should Plan for Their Estate

While some people believe estate planning is not necessary for them, Saunders advises just the opposite. All people must take a role in their estate plans, no matter how many assets or children they have or how young they are. Failure to plan accordingly can lead to disaster, especially for your family.

State Laws Will Take Over Without a Plan

estates and trustsWithout a proper estate plan, state laws will determine how your assets are distributed. You will also run into issues if you become incapacitated and can no longer work. In this case, a court will appoint someone to take care of your affairs on your behalf, leaving you with no say in the matter.

Creating a Will or Trust Is the First Step

To get your estate plan off the ground, you must first create a will or trust. A will determines how your assets will be distributed if you pass away. A trust works in a similar manner, but assets must be passed over to the trust during your lifetime to ensure they are distributed accordingly. In some cases, estate plans include both just to ensure assets remain protected.

If you haven’t planned your estate yet, then contact Dianne M. Saunders, CPA. She offers indispensable service and support to residents of Litchfield, from tax preparation to estate planning. Call (860) 567-3022 today to learn more about how this CPA firm can assist you. You can also visit the website for more information about the full range of services, including those related to estates and trusts.

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