Why Is Estate Planning Important?

Estate planning might sound fancy, but really it is just planning for the future in the event that the worst happens such as dying or becoming mentally incapacitated. This doesn’t mean that it will happen anytime soon, but it is good to plan in advance so your loved ones don’t suffer more as a result. Naturally, you may have questions about estate planning and the best way to go about setting up your plan for your unique situation. An estate planning lawyer,  like W.B. Moore Law, provides free and confidential consultations so that you can understand whether estate planning is right for you without having to pay a dime. 

It Gives You Peace of Mind

Estate planning can allow you to rest easy knowing that if someone terrible were to unexpectedly happen to you, your loved ones will be taken care of. Without an estate plan, also known as a will, in place, a court will determine how your assets will be allocated. In an ideal world, they would all go to your family, but if anyone contests this, your family may not get what they deserve. 

It Answers the Hard Questions so Your Loved Ones Don’t Have To

Death is hard on everyone. There are a lot of emotions that your loved ones will need to process. It can be hard for humans to make rational, well-thought-out decisions while they are grieving. An estate plan can remove this burden from them. You can determine what kind of healthcare you want to receive so they don’t have to decide whether or not you would want to be put on a ventilator or if you would want to continue living in a coma in a hospital for years. 

It Prevents Family Feuds 

You can take the question of who will receive what assets, valuables, and keepsakes after you die by having an estate plan. While you may hope that your family can fairly determine what each person will get, all too often it can cause lots of strife. Family members may feel they are entitled to more money or two people might be emotionally attached to the same item. Your estate plan can also settle disputes before they arise.

It Ensures Your Children Will Be Loved 

If you have children, you want to make sure they are loved and supported if the worst were to happen. If you don’t have it written in a legal document, a court may end up determining who will care for them. Don’t leave it to chance. Writing exactly who will take care of them and how your assets are to be distributed among them can provide them with the support they need to live full lives.