If you’ve been putting off your estate planning, you’re leaving yourself and your family unprepared for the future. It’s important to create a plan as soon as possible, so that you’re always protected. Take a look at 6 reasons, to see why it’s important to begin your estate planning.
- Have a say in how your affairs are handled. With an estate plan, you’re able to make important decisions about your future. If you want to be able to decide how your affairs are handled, then you need a plan. No plan. No control.
Without the right legal documentation in place, your state’s law and the court will determine how certain affairs are handled. This means that your true wishes may not be respected. Most people don’t realize that an estate plan is necessary in order to have full control.
- Protect your loved ones. With an estate plan, you’re able to protect your loved ones in a number of ways. This includes appointing a guardian for the care of your minor children. This best ensures that your children will always be cared for and protected. You can also purchase life insurance to ensure that your family will be able to pay bills, even if they lose your regular source of income. Most people create an estate plan in order to protect their loved ones.
- Plan for the unexpected. You never know when an unexpected event will happen. It’s important to have a plan in place so that your needs are always met. Many people create an estate plan and choose to include incapacity planning. This makes it possible to have control over important decisions, even if you’re unable to make them on your own.
Take a look at our next blog post tomorrow (part 2 of 2), for more reasons as to why you should begin your estate planning today.
If you have any questions, or if you’re ready to handle your estate planning affairs, consult with a qualified estate planning attorney.