Did you know that over 50% of Americans die without an estate plan or a will? While many people think that an estate planning attorney can only assist persons who have moderate to exceeding wealth, estate planning attorneys can assist with the final wishes of many other individuals. The bottom line is that just about everyone can benefit from estate planning and discussing their estate and belongings with an estate lawyer. Let’s delve into some critical reasons that you may need to consider working with an estate planning attorney.
Provisions for Your Immediate Family
We’ve all heard and seen the news stories and documentaries about individuals who have passed on and failed to leave a will or seek the assistance of an estate planning attorney. When you document how you want your belongings divided up among family members, there is nothing to fight about your estate in the event of your death. Sometimes siblings, cousins, and other family members can become enemies as opposed to allies after the death of a loved one when it comes to property, keepsakes, and money. It’s vital that you speak with an estate planning attorney so that what you leave behind goes into the hands that you desire.
Children Can Remain with Family Members You Know and Love
Oftentimes, individuals who pass away leave children behind. When we leave our homes each day, we anticipate arriving back. However, you may be involved in a fatal car accident. What happens in the event that you do not make it back home due to an event that causes your untimely death? Failing to speak with an estate planning attorney or having an estate plan in place will cause chaos and may even leave your minor children as wards of the state. Instead of such, discuss care for your children in the event of your demise with a trusted friend or relative. Instead of a judge deciding the fate of your minor children, have a plan that you wish executed for them in place.
Your Loved Ones Will Have Your Property Quickly
When you place your wishes for your estate in writing with an estate planning attorney, your loved ones will be able to obtain your property, belongings, heirlooms, and money quickly. Many families are left with the stresses and pain of going to court over a deceased loved one’s home, property, or even cash. Taking the time to put in writing how you want your estate divided up will save your loved ones’ time, energy, and money.
You may want your children to share your home while giving your favorite pearl pendant to a niece. You may also want your stepson to receive a certain amount of cash for a business he wants to start. You may even put in writing provisions for a co-worker that you enjoyed working with. Estate planning helps to end the obscurities and questions as to who will get what. It also helps to eliminate the waiting and annoying court proceedings for your family members.
Minimize Costs and Expenses
Did you know that when you fail to write an estate plan with an estate planning attorney, you are leaving your loved ones to pay for costly legal fees and court proceedings? The monies that you left behind will not go toward your family members. Those monies will go toward paying for attorneys, court costs, and more. Instead of leaving your loved ones to pay for judgments, simply get a plan together with a reputable estate planning attorney.
Dealing with death is never fun, but it is necessary. Having your wishes documented with an estate planning attorney helps to end questions, doubt, and discord among family members. As your Bismarck, ND estate planning team, we also provide child custody services, will writing, guardianship assistance, and more. The fact is that we never know when we will pass. It’s good to know that when it does happen, you can provide for your loved ones who have their lives to live. Connect with us today and let’s create an estate plan for you and your family together.