No matter your current circumstances, you can never predict the future. What if you die without a Will? What if your family has to make the decision about putting you on life support? How can you ensure that your loved ones don’t have to worry about your funeral expenses? You can rely on estate planning to address some of these concerns. Consult an estate planning lawyer Hamilton to know how you can protect your wealth and prepare for contingencies. In this post, we are sharing more on the need for an estate plan.
Do you need to worry about estate planning?
If you own anything, you need an estate plan. You may have limited stock investments or a very small house, but if you have assets, you must ensure that your wishes are honored at all times. Your estate plan will typically include a few documents, such as –
- A Will/trust
- A Living Will
- Powers of attorneys
Through an estate plan, you can –
- Appoint a guardian for your minor kids
- Decide who inherits your assets after your death
- Make provisions for your pets
- Create a trust for a loved one with special needs
- Decide what you want for end-of-life care
You can plan for a lot of things that you have no control over.
Working with an attorney vs. online services
Should you consider hiring an estate planning lawyer? How good are online services? Yes, there are legal services that promise to automate the process of creating a Will or other common documents. However, you must understand that estate planning is much more than that. You need advice about your circumstances, beneficiaries, and saving on taxes. Only an attorney with years of experience can offer that kind of support and expertise. Online services are based on certain parameters, but creating an estate plan is an extremely personal decision.
Minimize the hassles
Your loved ones shouldn’t have to deal with things after you are gone. Even when you are incapacitated or ill, they should be able to honor your wishes, and estate planning allows you to ensure that. You can choose someone who makes financial or medical decisions on your behalf, while your Living Will can help them decide about certain medical treatments.
Talk to an attorney about estate planning and express your concerns and wishes to get bespoke advice. Don’t wait for a good time to get started!
