What should I do if I realize that my parents do not have an estate plan in place?
Video Transcript
You should take your parents immediately to see an attorney, so that they can review your parent’s assets and your parent’s wishes, and give them recommendations so that they can plan accordingly and appoint decision makers in the even of their incapacity, or to properly plan to dispose of their assets upon death. Whether it’s avoiding probate or planing properly to protect the children’s inheritances from divorces and creditors, there’s so many important components of an estate plan and it’s highly recommended you meet with an attorney to review your parent’s situation.
