Most people don't want to think about planning their estate during their lifetime because it's stressful and scary to think about. It's important to handle these important affairs as soon as possible so that there is less stress and no surprises. An estate planning attorney can help you create the perfect plan that meets all of your needs. Take a look at the following information to better understand the reasons as to why you should plan your estate now, instead of later.
Protect Your Kids
If you have kids, you want to have a plan in place so that they're always taken care of. If you don't handle your affairs properly and have minor children, your state's laws may determine who will take care of them for you. With a proper plan, you can outline the right guardian. This can give you confidence that the right person will be caring for your kids.
You May Get Sick When You Least Expect It
You never know when an emergency medical situation may occur. In most cases, they happen when no one is expecting them. With an estate plan in place, you can have the right documents in order so that you're protected. This includes having a trusted family member or friend lined up to handle your financial concerns for you so that your bills can continue to be paid. This may also mean choosing someone to handle your medical affairs and speak with medical professionals on your behalf, if you ever become incapacitated.
Give Loved Ones a Greater Peace of Mind
If you have loved ones who care a lot about you, they may worry about your future. If you have been putting off your plans for a long time, this can bring fear. You want to make sure that your loved ones feel a greater peace of mind and have less worries about your health and safety. Doing your planning can help!
Make Sure the Right People Get Your Assets
After your death, your assets will be passed on. By doing your planning now, you can choose how this will be done. If you have special items that you want to give to certain loved ones, it's essential to have a plan. If you don't do this, your state laws will dictate how your assets are given away to family members. Make sure that you have control!
As you can see, it's important to have your estate planning matters handled as soon as possible. If you have any questions, or if you'd like to discuss your plans, contact an estate planning attorney like Gearing Rackner Engel And McGrath LLP.