What We’ve Learned about Estate Planning in the Last 5 Years

August marks our 5th year in business. Our Lake of the Ozarks law center is celebrating by sharing some of the observations we’ve made along the way in the practice area of estate planning. If you’re interested in creating an estate plan at the Lake of the Ozarks, this blog is for you.

What is Estate Planning? 

Estate planning consists of thinking through your end of life wishes, and reducing them to writing. It’s not the most uplifting topic to think about, but if you have assets that you’d like to be gifted to a certain family member or friend, or if you have small children that you would like to plan for should you suddenly no longer be able to care for them, then an estate plan in Camden County, Missouri can help ensure your wishes are carried out.

What We’ve Learned about Estate Planning:

Everyone can benefit from an estate plan. 

There is a common misconception that people with a significant amount of wealth are the only ones who need an estate plan.  However, no matter the amount of wealth you have right now, it is a good time to prepare for transferring those assets to your loved ones without having to go through the probate process.  Also, estate planning is more than making a plan for distributing your assets.  It is also planning for someone to step in to make financial and health care decisions for you, providing a succession plan for your business, or making sure your pet continues to be loved and cared for in the manner in which it has become accustomed. 

Estate planning doesn’t have to be a drag.

Thinking about and planning for your end of life can be a bit depressing, but it can also bring you a great sense of relief, knowing that you have reduced your wishes to writing, created a plan that is uniquely yours, and prepared for a seamless transition of your legacy to those who are most important to you and who you leave behind. 

Planning ahead makes life easier for everyone. 

The estate of an individual who does not have an estate plan will often have to go through probate court, where the process can get bogged-down and result in high-emotion and litigation among family members. In addition, the probate process is usually more expensive than preparing an estate plan.

The team at O’Donnell Law Center is comfortable guiding you through the process of having family discussions about end of life, and it can be an important first step toward relieving you of the stress of checking this off of your “to do” list.   Here at O’Donnell Law Center we have created many estate plans and have learned valuable lessons from every single one of them.   We take pride in helping families prepare for the future and create peace of mind that their wishes will be carried out in just the way that they have envisioned.

If you are thinking about establishing an estate plan at the Lake of the Ozarks, or if you have one already that needs updating, our law center is here to help. We can help walk you through the necessary steps and help you create an estate plan that fits your unique wishes.

We Carry Your Burden ~ You Carry On With Life.

Disclaimer: No attorney-client relationship is created by the publication of this blog.

The choice of a lawyer is an important decision and should not be based solely on advertising.

Phone: (573) 552-0317

O'Donnell Law Center, LLC
1026 Palisades Blvd. Suite 3
Osage Beach, MO  65065


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