But seriously y’all – let’s hope we all “need” to have an estate plan in place. Let us all hope that when that day does come (very far off in the distant future) we have loved ones we want to give our assets to, have assets to give, and aren’t so apathetic that we are happy to let the government decide what to do with our things and where our minor children should live.
You don’t need to live in the Biltmore House, have a vacation home, or have a private art collection big enough to rival MOMA to consider yourself the owner of an estate. In fact, virtually anyone who owns anything has an “estate” in the eyes of the law. Although the term may conjure images of mansions and flashy cars, for the purposes of estate planning law, the term “estate” covers a whole lot more.
