It’s a question you’ve probably asked yourself at some point in the past. You know what estate planning is, but you’re unsure if it’s worth the time and effort.
While it’s natural to do everything you can to avoid estate planning – as no one wants to think about passing on – it’s something every responsible adult should do.
There are many reasons why creating a comprehensive estate plan is so important to you and your loved ones. Here are some points of consideration:
- Without an estate plan, there’s no way of knowing with 100 percent certainty where your assets will end up upon your death. When you die intestate, or without a will, the laws of your state dictate what happens to your assets.
- Incapacity planning will give you peace of mind in knowing that your wishes will be carried out in the event that you’re unable to communicate, such as the result of a serious illness. You want to make sure the right person is managing both your health and finances.
- If you have children under the age of 18, you want to know that they’ll be safe should you pass on. An estate plan allows you to name a guardian for your minor children. Without this, you may have some concerns about where your children would end up in the event of your untimely death.
It’s these types of details that show you just why estate planning is so important. It goes well beyond deciding who gets what upon your death. The right estate plan can also be used to plan for the future, protect your children, and so much more.
If you have questions about estate planning, such as how to get started, contact us to schedule a consultation with an experienced attorney. This will go a long way in helping you decide what to do next.