Post By: Dana Sunderlin
Over the years, people have come up with many reasons for why they have not made plans for their estate in the future. Many of these “excuses” include “We are having enough trouble making ends meet now. We will worry about the future later,” “We have thought about writing a will, but do not know a good estate planning attorney and can’t afford it right now anyway,” and even “I cannot decide how to divide up my estate.” Although estate planning may seem to be something that you can put off until another time, what happens when you run out of time? Making a plan now is important.
There are numerous reasons why making an estate plan sooner than later is a wise decision. For one, with a plan, you can ensure that the things that you own go to whom you want and how you want. If you were to die without a will or some form of trust, a court would have the power to decide the future of your assets. Another reason is that if you became disabled in some way and no longer able to manage your own affairs, you are guaranteed to be protected. Planning ahead will also protect your heirs from having to deal with large legal fees and taxes, and will send a powerful message to them after you are gone; that you loved them enough to take the time to meaningfully divide up your assets. Most importantly, taking on the challenge of estate planning early on in life will give you a certain peace of mind. You will know that if something happens to you, your possessions and loved ones that are left behind will be taken care of. Is that something you would really want to leave to chance?
There are numerous reasons why making an estate plan sooner than later is a wise decision. For one, with a plan, you can ensure that the things that you own go to whom you want and how you want. If you were to die without a will or some form of trust, a court would have the power to decide the future of your assets. Another reason is that if you became disabled in some way and no longer able to manage your own affairs, you are guaranteed to be protected. Planning ahead will also protect your heirs from having to deal with large legal fees and taxes, and will send a powerful message to them after you are gone; that you loved them enough to take the time to meaningfully divide up your assets. Most importantly, taking on the challenge of estate planning early on in life will give you a certain peace of mind. You will know that if something happens to you, your possessions and loved ones that are left behind will be taken care of. Is that something you would really want to leave to chance?
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