Wondering what estate planning is? You’re not alone—it’s the top question we hear at Davenport & Associates!
In simple terms, estate planning is about deciding what happens to your money, home, and responsibilities when you can’t manage them anymore, whether due to illness or passing away.
It’s not just for the rich; it’s for anyone with a family, a house, or savings—like the majority of the clients we serve.
Let’s break it down in plain language so you can get started.
Think of estate planning as a roadmap for your life’s work. It’s about making sure your loved ones are taken care of and your wishes are clear.
It covers two big moments: if you get sick and can’t make decisions, or after you’re gone.
Only 32% of people have a plan in 2025, leaving the rest at risk of courts deciding for them.
Common Question & Answer: “What is estate planning in simple terms?” – It’s organizing your assets and wishes so your family knows what to do, avoiding stress and extra costs.
Estate planning isn’t just paperwork—it protects your family. Without it, your assets go through probate, a court process costing 3–7% of your estate (that’s $7,500–$17,500 on a $250K estate). It also:
Common Question & Answer: “Why should I do estate planning?” – It saves money, avoids court, and keeps your family secure.
You don’t need to be a millionaire or a lawyer to begin. Here’s a simple 3-step plan:
In 2025, online tools and flat-fee services make it even simpler.
Common Question & Answer: “How do I start estate planning in 2025?” – List assets, pick people, and consult a pro like us.
Many think estate planning is only for the old or rich. Nope! A 2025 survey shows 68% of people under 35 now plan, and middle-class families save thousands with basic trusts. It’s about peace of mind for everyone.
Don’t wait—32% of people regret not planning sooner.
Common Question & Answer: “Is estate planning necessary for me?” – Yes, if you care about your family’s future.
Contact Davenport & Associates for a free consultation to make it simple or take our estate planning quiz to see where you might stack up.