If you haven’t yet taken the time to create an estate plan, you may assume that you don’t really need a plan. Many people incorrectly assume that a plan is not needed; but, the truth is, it is! Take a look at 3 more reasons why most people need an estate plan. If you have any questions, or if you’d like to commit to your estate plan affairs, contact an estate planning attorney.
- A plan makes it possible to avoid probate. Many people have intentions of avoiding the entire probate process. This is because it can take a long time, cost a lot of money, and makes your affairs public. If you want to keep all of your affairs private and make sure that your loved ones will receive your assets quickly after your death, you may want to include probate avoidance techniques with the use of an estate plan.
- With a plan, it’s possible to protect loved ones with special needs. This makes it possible to leave a protected inheritance behind, so that you can ensure that a loved one is always cared for. If you have a loved one with special needs, you can utilize special needs planning techniques to ensure that your loved one has the support that is needed, without sacrificing his or her Government benefits.
- You can use planning to prepare for future costs. An estate plan is not just about protecting yourself today or making sure that you affairs are handled after death. With a plan, you can prepare for future expenses, before they occur. Have you taken the time to consider retirement planning or long term care planning? This is an important aspect of estate planning, that many people need to consider.
These are six reasons why you may need estate planning. Don’t put off your planning. Make sure that you’re always protected throughout life’s many misadventures.
If you have any questions about your estate plan needs, consult with a qualified estate planning attorney.