Responsible Planning for the Future
Estate planning is the process of preparing for the future, both during your lifetime and beyond. Through proper estate planning, you take control of your future, ensuring that your interests are protected, your wishes carried out, and your loved ones relieved from the uncertainty and anxiety of making many tough and personal decisions in your absence. Estate planning provides answers to these important questions:
- Who will get my property after I die? How will my affairs be settled?
- Who will protect my interests if I am disabled or otherwise unable to do so? Who will step in on my behalf and make my medical and financial decisions during a time of crisis?
- Who will care for my children if I die and how can I ensure that they are protected?
- How can I preserve my legacy for future generations?
Leaving these major financial, medical, and legal decisions unaddressed often leads to problems, miscommunications, and delays, in times when answers are needed most.
You likely have many goals for your future: preserving your property, protecting your spouse and children, transitioning your business, or planning for long-term care. Our estate planning attorneys can help prepare an individualized plan to address and prioritize these goals and provide security for you and your family.
Estate Planning Can Benefit Everyone
Everyone can benefit from estate planning because it deals with issues that touch everyone’s lives. While no one wants to think about death or the possibility of disability, incapacity, or the need for long-term care, we all must address these issues at some point in our lives. For this reason, it is important to realize the following points:
- You do not need a lot of money to benefit from estate planning. Even if you have little possessions, you still have a right to decide who will get them, who will care for your minor or special needs child, who will settle your affairs, and what will happen if you become disabled, incapacitated, or require long-term care. More often than not, addressing these issues upfront is significantly less expensive and burdensome than handling the fall out in the absence of proper estate planning.
- You do not need to be old to benefit from estate planning. While the realities of disability, incapacity, and death become more apparent with age, the benefits of estate planning are the same regardless of your age. Even younger individuals need to plan for incapacity, long-term care, and the possibility of death, especially where minor children, real estate, or individuals with special needs are involved. An unfortunate reality of life is that it can take sudden and unexpected turns, and it is far better to be prepared and secure should a tragedy occur.
Start the Process Early: The Importance of Planning Today
If you are hesitant to estate plan, you are not alone. While most people recognize that estate planning is important, it is often put off for the future because it seems overwhelming and the benefits seem too far removed. However, it is essential to start planning early. The benefits of having estate planning in place far outweigh the cost or inconvenience of creating one. You do not want to be forced into the process by tragedy or crisis and you do not want to be left without proper planning when it becomes necessary.
As with any planning tool, your estate plan can only be truly effective if it is already in place when it is needed. Once estate planning becomes relevant or necessary, it is often too late to efficiently and successfully carry out your goals. Proper planning is essential to avoid unnecessary uncertainty, anxiety, and expense, should such a tragedy occur.
Putting Your Estate Plan in Motion
An effective estate plan, which should include a will, medical power of attorney, durable financial power of attorney, and living will (and may include a revocable living trust), can give you the peace of mind in knowing there’s a secure and certain future for you and your family. Our estate planning attorneys can help you evaluate you unique position, discuss your goals and concerns, and execute an individualized estate plan that works best for you.
CONTACT KEEN KEEN & GOOD TODAY
If you or a loved one need assistance with estate planning, call Keen Keen & Good at (610) 383-7810 or email us using the intake form to the right. Our estate planning attorneys would be happy to assist and advise you in the following areas: