We get it, it’s easy to put this off. Who wants to think about death, especially your own death? It’s a topic we avoid. However, experts say planning your estate is one of the most therapeutic things you can do because it puts you at peace with whatever happens. Not that you’re ready to die. You’re just not caught off guard or unprepared. You have your affairs in order.
There are many reasons why people plan their estate. For instance, not being a burden to loved ones left behind. Another is wanting your life to say what you want it to say, as opposed to something else based on a mess. People who don’t plan their estate often leave a messy situation.
Consulting an experienced estate planning attorney is something you should seriously consider doing sooner, rather than later. Why?
Here are four questions when getting your affairs in order.
What happens when you die without an Estate Plan?
Let’s face it, no one wants to dwell on their own mortality, and we genuinely hope you live a long, full life. But no matter how old you are, you can never be sure when your time is up. If you die without it, then your property will be subject to the intestate succession laws of your state, meaning it may not end up where you want it to. That would suck! If you can do something about it, why not do it?
What happens if I become incapacitated?
There’s a lot of things, that despite our best efforts, we can’t predict when or if they’ll ever happen. As humans, we’re quite vulnerable, you might become incapacitated and unable to make important medical decisions. Shoot, now what? Along with planning for your assets, an estate planning lawyer can also help you plan ahead for future medical decisions, in the event that you are unable to express your wishes following an accident or illness. If you create a Living Will, you can be sure that these decisions and other wishes will be honored. Phew!
Do I really know what I’m able to do with an Estate Plan?
Your estate plan may require action on your part, such as changing the beneficiary on an insurance policy, changing the way your property is titled, or making tax-saving gifts to loved ones. Bet you didn’t know you could do that! The sooner you can begin implementing your estate plan, the better.
Am I at peace with plan (or lack thereof) I have for when I die?
Last but not least, knowing that your final wishes will be legally effective and properly implemented can be a huge weight off of your shoulders. It doesn’t stop there. Estate planning protects your family, especially if you have young children. It eliminates unnecessary stress, expense, and rather unpleasant consequences, but most importantly it will provide peace of mind, easing an underlying stress, so you can stop worrying and start living!
In conclusion, an estate planning attorney can help you identify the needs of your estate plan, which can vary depending on your age, your marital status, and other individual circumstances. If you want to learn more about how estate plans can fit your phase of life, schedule a free consultation and we can help!