There are many reasons that everyone needs an Estate Plan. These are the first three reasons that come to the top of my mind because they seem to really resonate with my clients.
Put Your Worries To Bed
Having an Estate Plan can get you more sleep and night and reduce those stress wrinkles.
Knowing that you've:
- Named the right guardians for your children.
- Appointed someone to care for your financial affairs.
- Expressed your wishes related to healthcare decisions and appointed a trusted agent to carry them out.
These along with many other decisions made in your Estate Plan will keep you from worry.
Make Your Own Decisions
Without an Estate Plan, you leave decisions to the legislature and the courts.
Naming the right people to fill the roles of Successor Trustee, Healthcare Agent and Guardians for your children is something you should do. However, if you don't, these decision are left to a court to decide. In the case of Guardians for you children, this can lead to fighting among family member and the appointment of a guardian you would never want.
Division of your assets is left to the State Statutes. This could lead to those you never intended to provide for inheriting the bulk of your assets.
Incapacity & Healthcare
If you become mentally or physically impaired, you'll need someone to manage your day-to-day affairs. If you're injured and can't make your on medical decisions, you'll need someone to make those decisions for you.
With a comprehensive Estate Plan you'll appoint those people and give them the direction and guidance to make the deicsions you would want.
If you'd like to learn more or have any other Estate Planning questions, please schedule a complimentary Estate Planning Strategy Session.