Everyone needs to have some kind of estate plan in case of the unexpected. Without it, your loved ones will be left to piece everything together without the benefit of knowing your wishes, or they might not even be aware of all the property you own. This can lead to fighting among family members, sometimes ending up in court. Under these circumstances, the chances are good that the outcome will not be what you would have wanted.
There are several very important goals you can accomplish through a well drafted estate plan:
- Provide for your loved ones after you're gone
- Make sure your property goes where you want it to go
- Prevent disputes between family members
- Name someone to look after your minor children
- Appoint someone you trust to handle your estate matters when you're gone
- Name someone to make financial or healthcare decisions for you
- Describe your wishes for medical care in case you become incapacitated
- Keep your loved ones from having to go through probate to receive their share
- Provide future incentives for your children to succeed
Your estate plan will consist of several documents, each of which plays a role in making sure your estate administration is simple and easy for your family members. At a time when they will already be mourning your loss, having a plan in place for them to follow will greatly relieve them of additional stress.
Helix Law Firm can guide you through the estate planning process
The estate planning you do now can make a huge difference in the lives of your family members after you're gone. We can help you draft an estate plan that provides for them financially and provides many other advantages as well.