John McManus is quoted throughout “Neglecting Estate Planning Is a Grave Error”:
Many people don’t bother to create an estate plan because they don’t think they have enough money to make it worth the effort, but John O. McManus, an estate attorney and founder of New Jersey-based McManus & Associates, points out that you don’t have to be a billionaire for your estate to add up. If you have a 401(k), life insurance, and a house that appreciated in value despite the downturn, your estate is likely to surpass $1 million. If you’re a small business owner, that total can skyrocket.
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Avoiding estate taxes and probate fees is where smart estate planning comes in. McManus says that whether you want to leave your money to your spouse or your dog, getting expert advice to spell out your wishes in a will — and possibly a trust — is a smart idea.
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