Will I Need an Estate Plan?
It never hurts to be prepared. And more importantly, you can have a positive impact on your family by setting your affairs in order long before you need to. But here are some good reasons to think about drafting a will:
Protecting Your Children
If you have children, you want to make sure that you’ve provided for them both financially and in terms of care. It’s important to appoint a guardian for any minor children, so you want to choose someone you trust to take care of and guide your children.
You also want to make sure that you’ve appointed a trustee to take care of your children’s financial needs and inheritance. This person should be someone who has the ability to act in the best interest of your children with regards to their financial needs and any inheritance they may have through you.
Protecting Your Heirs
In most cases, with any inheritance or property, it is helpful to decide who gets what. Without a will, if you have more than one heir, it is possible that your property gets split between a number of heirs. This often makes managing the property and any inheritance difficult for the heirs. A little planning in advance helps keep peace in the family.
Peace of Mind
Most of us want to be sure that our children are taken care of, our property is in good hands, and our loved ones know that they were important to us. An estate plan allows you to breathe easy knowing that your decisions regarding your family and property are going to be honored.
If you still aren’t sure you are ready to make a will, consider consulting an attorney to set up powers of attorney for medical issues and financial issues. If something happens to you and you can’t make decisions for yourself, you can rest easy that you have chosen someone you love and trust to make those decisions for you.
It’s difficult sometimes to think far enough in advance to plan ahead, but taking care of all of these documents now saves you and your loved ones time and stress later.
Contact a Will Attorney
Consult an attorney today and have the peace of mind that comes with knowing that you and the ones you love are taken care of…no matter what might come your way.