Consequences of Not Handling Your Estate Planning Affairs (part 2 of 2)

Throughout life, you may find yourself putting off your estate planning. It can be easy to set your needs aside as your continue to go through lifes many adventures. However, its important to understand the importance of planning so that you are always prepared for lifes many misadventures. If you put off your needs, your wishes may not be respected. Take a look at the following information, to see how not creating a plan could be very costly. If you have any questions, or if youd like to begin your estate planning, meet with an estate planning attorney.

• Without a plan, youre not able to appoint trusted helpers

You will want to make sure that all of your financial and medical affairs are in good hands. With an estate plan, you can decide who will help you during any time of need. This may include choosing an executor to handle your estate affairs. You may also appoint a trustee to manage your trusts affairs. Additionally, you may also appoint agents to help make financial and medical decisions on your behalf, if youre ever unable to make those choices. If you dont have a plan in place, you may not have the support that you need and you wont be able to choose who will assist you.

• If you dont plan, you cant avoid probate

 

Probate is a costly, time consuming, and public process. During the probate process, your affairs will be handled and your assets will be distributed. If youre looking for a way to save money and time as well as keep your affairs private, you will want to create a plan. There are probate avoidance techniques that can allow you to achieve your goals. Without the right tools, your affairs will have to be handled in probate court.

Take the time to meet with an attorney today. This will give you the opportunity to discuss your estate planning needs and will allow you to reach your goals.

If you have any questions, or if youre ready to start your estate planning, consult with an estate planning attorney.