What is an “Estate”?
We talk about estate planning all the time here at the office, but I don’t if I’ve ever taken the time to talk about or explain what an “estate” really is.
I guess if you’re going to talk about estate planning, you should define the main word that explains what you do. So let’s give it a shot.
The Legal Definition of Estate
If you talk to any estate planning lawyer and ask them what an estate is, this is the answer you’ll get:
Your estate consists of all of your property, including:
- Your home and other real estate (although how much of it is your could depend on how the title is held, who holds title, and the state the property is in);
- Tangible personal property such as cars and furniture; and
- Intangible property such as insurance, bank accounts, stocks, and bonds, and pension and Social Security benefits.
The thing is, though, there is so much more to it than that, at least there is here at Rich Life Lawyer.
The Definition of Estate at Rich Life Lawyer
When I think about the things I want my kids, family, and friends to get when I die, it’s so much more than just stuff. It’s so much more than just money. It’s so much more than just family heirlooms.
It’s the story of my family.
It’s the story of us.
It’s the story of me.
It’s the lessons I’ve learned, the things I’ve experienced, and the knowledge and expertise I’ve accumulated over a lifetime.
That’s what estate means for our estate planning attorneys, which means if you are interested in passing along more than just your stuff, we can help you do that.
And not only that, we can help you do it effortlessly.
Everything I create here is the same stuff I’ve created for my family. One of the coolest things about estate planning is the opportunity to have your legacy live on for hundreds of years after you actually leave this earth.
Your estate is so much more than just your stuff…
P.S. Do you have kids? Have you completed guardianship paperwork? Have you done it correctly? Click here to find out what happens if you don’t do anything: Are you okay with a judge choosing the guardians of your children?
P.P.S. Do you own a business? Do you have a plan so the business, and your family, can survive if something happens to you? If not, click here to learn how simple it is to protect your business and your family from tragedy: 5 Ways to Protect Your Business from Catastrophic Failure.
P.P.S. Do you have no kids and think you don’t need an estate plan? Single and think a will is only for married couples. You couldn’t be more wrong. Click here to learn more: 5 reasons estate planning is a must have even if you don’t have kids.
Christopher Small is a Kirkland estate planning attorney who helps people get rich and live forever. He is also the owner of CMS Law Firm LLC.