The Indian Business Owner TIBO Magazine - Volume 001 - Page 20

The Importance of Estate Planning Your most important asset is your family. The Indian community works tirelessly day-in and day-out to care for and provide for these loved ones. Beyond taking care of our family diligently during our lifetime, we must take a further step to preserve the future for them. Each of us must create an effective Estate Plan. Having an Estate Plan includes preparing a Will, a Living Trust, a Financial Power of Attorney, and a Health Care Power of Attorney. These four components are virtually a necessity in this day and age because without them, we leave our children, our heirs, at the mercy of the courts and judges. If I 18 |TIBO Magazine - Fall 2016 am no longer, and I have failed to prepare my Living Trust, my children have no choice but to stand before a judge and ask for what is rightfully theirs - this means they are forced to go through the Probate Court process. The Probate Court is not for our community; we are a community that goes the extra mile and that means doing the right thing. When it comes to your assets, the right thing means taking the step to prepare your Estate Plan. Preparing an Estate Plan should be a smooth and simple process. With a trusted Estate Planning