Blog

 

Estate Planning - One of the Many Ways Group Legal Benefits from Legal Club are Meaningful

April, 2021

Estate Planning may sound exclusive but is an essential part of planning for the future that can save many headaches down the road for everyone. The first priority is writing a Last Will and Testament. Members of Legal Club's Family Legal Plan and Family Protection Plans receive a FREE Simple Will and access to a plan attorney for help completing it if needed.

With a legal will, you can determine the fate of your house, your valuables, and even the guardianship of your dependent children. Certainly, if you have dependent children, you do not want to leave things up to probate court. Naming a legal guardian in a will allows you to decide.

A will helps avoid potential disagreements among your beneficiaries by providing instructions from you explicitly naming who should receive your property and assets such as real estate, money in bank accounts, stocks and bonds, artwork, jewelry, and other valuables. It also names an executor to handle your property's distribution and arrange payment of debts and taxes. This reduces the cost of probate court, avoids unnecessary taxes and fees, and ensures a more efficient transfer of assets. Without a will, a court-appointed administrator can handle the process and can take a long time to track down and manage all your assets, negatively impacting your beneficiaries.

For some people, setting up a trust is a valuable part of a well-crafted estate plan. There are many types of trusts, but a trust is traditionally used to minimize estate taxes and provide more specific control of the distribution of assets.

When establishing a trust, you'll transfer your assets' legal ownership to the trust itself and appoint a trustee to manage the assets. The trust can give you greater control over your assets as you can specify who gets what and when such as releasing funds to your children when they reach a certain age.

Since trusts usually avoid probate, your beneficiaries may gain access to assets more quickly. If it is an irrevocable trust, it may not be considered part of the taxable estate so that fewer taxes may be due.

Group legal plans from Legal Club provide a wide range of free and discounted legal care, financial, tax, and identity theft benefits. Plans include access to over 85,000 online forms such as Last Will and Testament and Power of Attorney forms. To learn more about the plans offered by Legal Club, browse this website or call us at 800-305-6816.

Blog List

 

Return to Blog Overview

APRIL, 2022
How to Reach Your Financial Goals

MARCH, 2022
Ways Credit Counseling Can Help You Pay Off Debt

FEBRUARY, 2022
How Working Remotely Could Affect Your Taxes

JANUARY, 2022
Important Tax Information for 2022

DECEMBER, 2021
New Year's Resolutions for 2022

NOVEMBER, 2021
How to Boost Your Annual Enrollment Strategy

OCTOBER, 2021
Join Legal Club in Supporting Breast Cancer Awareness Month

SEPTEMBER, 2021
Incidences of Identity Theft are Rising Due to the Pandemic

AUGUST, 2021
Has the Value of Voluntary Benefits Increased Due to the Pandemic?

JULY, 2021
Does Your Sales Message Stand out?

JUNE, 2021
Financial Wellness - An Important Part of Any Comprehensive Employee Benefits Plan

MAY, 2021
Account Rounding - Another Way Legal Club Helps Employee Benefit Professionals

APRIL, 2021
Estate Planning - One of the Many Ways Group Legal Benefits from Legal Club are Meaningful

MARCH, 2021
Tax Season Tip: How to Avoid an IRS Audit

FEBRUARY, 2021
Tax Filing Season Starts February 12

JANUARY, 2021
Important Tax Changes for 2021

DECEMBER, 2020
The Added Importance of Voluntary Benefits In The New Year

NOVEMBER, 2020
5 Reasons Why Employers Should Offer a Group Legal Plan

OCTOBER, 2020
Legal Club Supports Breast Cancer Awareness

SEPTEMBER, 2020
It's Never Too Early to Check Tax Withholding

AUGUST, 2020
9 Questions That Explain Why Plans From Legal Club Provide Meaningful Benefits For Everyday Life

JULY, 2020
Overcoming the Pitfalls of Home Buying in the New Normal

JUNE, 2020
Advice For Attorneys During Uncertain Times

Meaningful Benefits for Everyday Life

Legal, Tax, Identity Theft solutions and more

Corporate Headquarters

7771 W. Oakland Park Blvd., Suite 217

Sunrise, Florida 33351-6796

Toll Free Main 800-316-5387

Local Main 954-377-0222

Fax 954-267-0401

info@legalclub.com

Legal Club provides group legal, tax, ID theft solutions and other benefits to more than 2,000,000 working Americans and their families. Legal Club's suite of products can be tailored to meet the needs of evolving employee populations and are designed to provide maximum value and flexibility. Partnering with agents, brokers, consultants and other distributors, Legal Club has provided meaningful benefits for everyday life to organizations around the country for more than two decades.

Legal Club is a proud sponsor of BCRF, donating 2% of revenue from new group cases each year. Learn more >

© 2022  Legal Club of America. Privacy Policy | Disclaimer