7 Reasons To Get An Estate Plan Now

Estate planning is easy to put off. You don't know when you will need it. It could be in 10 years, it could be in 20 years ... or it could be tomorrow. That is why it is important to establish these plans as soon as possible, so you can rest assured your wishes will be followed no matter what the future holds.

There are many reasons to get an estate plan sooner rather than later. Here are 7 of the top reasons:

  1. You want to provide for your loved ones: Estate planning allows you to set aside wealth and property for family members, friends, pets, charitable causes and others whose future care and well-being is important to you.
  2. Incapacity could set in: No one likes to think about it, but an incapacitating accident or medical condition could strike at any time. Creating an estate plan allows you to name trusted people to make critical financial and health-care decisions for you in the event you become incapacitated.
  3. You have minor children: An estate plan also allows you to appoint a guardian for your minor children in the event tragedy strikes and they are left without parents.
  4. You own a business: A sound succession plan ensures that your business stays in the family, and will be owned and managed by successors of your choosing.
  5. You want to avoid probate: Skillful use of estate planning documents may help your heirs avoid the probate process. At the very least, you can make this process much easier to bear.
  6. Dying without a will creates problems: If you die without a will, your assets will be distributed in accordance with California intestate succession laws. It is unlikely the state's plan truly reflects your wishes or the needs of your family members.
  7. You want to prevent conflict: An ambiguous estate plan invites dispute, and can cause rifts among surviving family members. Spelling out your wishes leaves no room for disagreement.

As an estate planning lawyer in Rocklin, I am committed to helping my clients avoid the problems that can arise when they don't have sound estate plans in place.

To learn how an attorney can help you, please contact my law office online or by telephone at 916-625-6639.