While you may assume that an estate plan is unnecessary, the truth is a plan can be extremely beneficial. An estate plan makes it possible for you to have control over your future affairs when you otherwise wouldnt. Without an estate plan in place, you may be unable to control financial, medical, and family decisions. Take a look at the following information, to learn why you may want to create a comprehensive estate plan.
You can decide how your property will be distributed. If you want your property to be given to certain people after your death, then you need to plan. If you choose to ignore your planning needs, your state laws will determine how your assets are distributed after your death.
You can prepare for emergencies. You never know when an emergency may occur. You should have a plan in place so that youre prepared for possible incapacity as well as for death. You likely want to make sure that all of your needs are met and that your loved ones will always be cared for.
You can avoid future conflict and difficult scenarios. With an estate plan, you can minimize conflict between family members. This gives you the option to plan out how your affairs will be handled, so that your wishes are respected. You can also avoid difficult issues such as the ability for creditors to take your loved ones assets.
You can make sure that your affairs are always in good hands. You may decide to create an incapacity plan, so that a trusted loved one can assist you with your needs and affairs. You also have the opportunity to choose trusted helpers who will handle your affairs after your death, and will ensure that your matters are handled correctly and with care.
Take the time to consider your own estate planning needs. You will find that by creating a plan, you will have more control over your life. If you have any question about how an estate plan can be beneficial, consult with a qualified estate planning attorney.