Every adult should consider preparing an estate plan. This is true regardless of your age or the value of your estate. Whether you are new parents welcoming your first child, a single professional in the height of your career, a high school graduate heading off to college, grandparents planning for your sunset years, a married couple finally checking off a box on your "to do" list, or any other category you may place yourself if, it is important to take those steps to plan now!
Why is Estate Planning Important?
- It is important for you to decide how the assets you have the money, property, and possessions you have accumulated during your lifetime will be distributed upon your death.
- It is important for individuals and couples to appoint trusted family or friends to act on their behalf, as they directed in a plan for disability or incapacity and death.
- It may be important for you to consider options that may protect your assets from unnecessary taxes and avoidable attacks of creditors.
- It is important for you to consider healthcare decisions, medical directives, end of life preferences and burial instruction.
- It is important for young families to plan for the care of their minor children.
- It is important for young adults to decide if their parents or any other trusted person will be permitted to access medical information and act on their behalf in the event of a medical emergency.
- It may be important to prepare a plan to ensure eligibility for benefits is not lost and also to plan for future care.
- It may be important for non-familial beneficiaries, blended families and non-traditional families to properly include or exclude potential beneficiaries.
- It is important to make these plans before it becomes necessary because of illness or death, when it is often too late to take advantage of planning tools, and when the decisions will be made during an already stressful and emotional time.
- It may be especially important to make these estate planning decisions and directives if there may conflict between your own wishes and those of your family, or to avoid disagreements between loved ones.
Contact Hartmann Law
Hartmann Law can guide you through the estate planning process, so that you can ensure that your legacy is carried out as you intend.