You Can’t Plan It, But You Can Plan For It
No one plans it. We all know that it is the eventuality of life: Someday we will pass. When we are young, it is easy to think of it as being a faraway event that is so distant we are largely removed from it.
While that may make it easier to go about our day-to-day lives, it can be disastrous for our families, especially if we have children. Like it or not, death doesn’t generally give us a warning and a failure to plan can be a costly mistake.
Who Should Make An Estate Plan?
Wondering who should create an estate plan? The simple answer to that is everyone. Young or old, with many assets or few, end-of-life planning relieves your family of last minute questions such as burial wishes and asset distribution.
If you have a young family, estate planning is not just about burial and financial matters. If you pass before your children are 18, your will allows you to designate a guardian who will raise them in your absence. Without a will, the courts must make a decision regarding where and with whom they will live. In addition, easy transfers like a house and vehicle will require the help and cost of an attorney, likely costing more than a simple will.
Not Just For Older People
For young adults, a will is just as critical, even for those who have few assets. If you do not designate who will inherit, the state will do it for you. This is a costly endeavor for your family and the courts must follow statutes regarding how your property. In the end, it could cost your family more than what you have left behind and if without a court order, your bank accounts, 401k and even your car can go unclaimed and later turned over to the state.
For older adults, planning your end-of-life choices allows you to know your family will not be left with a legal headache.
Caring, Thoughtful, Attentive
Located in Kansas City, Missouri, the Law Offices of Rebecca Martin offers direct, honest and personalized legal counsel. We understand the details of estate planning. Our commitment to diligence and exacting representation ensures a positive experience for you now and in the future. From living wills to trusts, we have the experience you seek. We offer free consultations, so please contact our lawyers at 816-945-8759.