Most people know that estate planning is important – but many also sort of think that it’s something there is always “more time” to do, or something that isn’t really important to have done until you are older. That is just not the case though; NOW is the best time to seriously think about estate planning if you have not already done so.
What are some of the benefits of proper estate planning?
One of the most important aspects of estate planning is naming a guardian for any minor children that you have. If you and your spouse die before your children become adults and before you formally name a guardian, then the courts will determine where and with whom your child(ren) will live, and will make important decisions about any money or other assets you may leave to them. Proper estate planning helps to ensure that your children’s lives will continue as uninterrupted as possible – surrounded by the people you trust the most with their care, and with the finances and assets that can help make their lives easier and more secure.
But what if I don’t have children – is estate planning still important?
Yes! Even if you don’t have minor (or adult) children, estate planning is still important. Having a will or other formal estate documents in place means that your property will go to your beneficiaries quickly – likely in a much quicker time frame than if you die without a will or other formal document.
During estate planning, you will also make plans for yourself – for a time or times when you may be unable or unwilling to make medical decisions on your own behalf. Living wills and power-of-attorney documents which detail out your wishes for life supported and advanced medical care ensure that your wishes are always respected.
Additionally, good estate planning can reduce expenses in passing assets on to your heirs and beneficiaries, saving them time and money, and good estate planning can also ease strain on your family during a difficult and sad time in their lives. You can document your wishes and desires for funeral and after-life arrangements, leaving your loved ones with no doubts about how you would want things done.
If you haven’t yet set up your will, power-of-attorney or other estate documents, call the Law Office of Anne Dowden Saxton today to set up an appointment. We’re open convenient hours, and are ready to listen to you and document your wishes for division of your assets and property after your passing. We’ve seen many families helped by good estate planning – let us help your family today.