Estate planning allows us to avoid legal questions that arise when anyone is incapacitated or dies. Questions about finances, property, guardianship for minors, tax implications of selling property, business transfers, medical/health care considerations, funeral plans and more. Decisions made and implemented today may be modified over time, allowing flexibility over time for changes you desire.
Whether you are single or not, young or advancing, an estate plan is a comprehensive look at your life. Who is in your life, what you have and how you wish life to be for you, if someone needs to speak for you or for others, if you are not here.
There are pieces in an estate plan that together provide a road map to others. If nothing is documented, the courts step in and act on your behalf. All fifty states have laws or statutes on the books that dictate how your property passes to others. The default imposed by the states can be different than your wishes. No exceptions are made by the states, if you elect not to document your wishes.
It can be confusing for we lay people to understand how this all comes together. It can be emotionally challenging to think about a time when we may need someone to speak for us or to think of when we aren’t here. My experiences have taught me that there are tremendous emotional challenges for people when they face a time of needing to act or respond to a situation involving someone they care about when there is nothing documented telling them of their loved one’s wishes.
One of the greatest gifts we can give those we care about is taking the opportunity to review our lives thoughtfully and thoroughly and documenting them in ways to guide others and protect ourselves from legal questions. Consider your options as you prepare your estate plan. Be prepared to discuss financial issues as an integral part of estate planning.
Life happens, expect the unexpected, plan the work, work the plan … now is as good a time as any! When you’re ready for an outside eye to work on contingency plans for work and home, contact us.
We proactively help you assess your situation in business and home and explore ways for you to protect what is important to you by asking questions. What is your risk? Your plan? Are you ready to be ready? Proactive preparation is our forte.
Contact us to learn more about how we work with individuals, business owners and employees via Email or online @ The Living Planner #ExpectTheUnexpected #CareForPeopleCareForBusiness