Have you considered what will happen to your assets when you die? Thinking about what happens after your death can be, admittedly, an uncomfortable topic that you may be avoiding. However, it is something that everyone should consider. Have you ever thought about writing a will but then said to yourself:
- “I am not old enough.”
- “I am not sick.”
- “I do not have anything to leave behind.
- “I just want everything to go to my spouse.”
Planning what will happen to your assets in the event of your death is something that everyone should consider regardless of their age, health, size of their estate, or to whom they wish to leave their assets. Estate planning includes many different tools and strategies that can benefit almost everyone.For example, if you have minor children, taking time to plan your estate, even if you yourself are very young, can avoid stressful and time-consuming guardianship proceedings in the event of your untimely death. In another example, even if you have what you consider to be a small estate, using estate planning strategies to avoid having your will go through the probate process may save your loved ones time and money.
One of the most basic estate planning strategies is writing a will. Most people have heard of a will, which is a document that you write that designates who will receive your assets in the event of your death. Typically, it must meet several requirements prescribed by the law in the state where you live to be valid. You may have thought about writing a will, but then thought:
- “I don’t even know where to start.”
If this sounds like you, you should consider reaching out to the competent and experienced estate attorney in O’Fallon MO. Even if you have already written a will, you should consider reaching out to make sure that it meets the legal requirements in your state, that all of your assets are covered, and to find out if there is another estate planning strategy, such as a living trust, that may better suit your needs. The attorneys have combined experience helping people just like you plan for the distribution of their assets at the time of their death. The attorneys have seen many different types of estates and families and will be able to advise you about the best way to preserve your wishes and save your loved ones time and money after you pass.
Maybe you have considered estate planning and think that it may be right for you, but then stopped yourself thinking:
- “I have heard it can be expensive.”
Yes, there will likely be some upfront costs if you hire an attorney to help you plan your estate, or even if you decide to talk some steps on your own. However, you can look at this upfront cost as an investment: some money spent now to get your affairs in order will likely save your loved ones more money in the future, and will also almost definitely save them time and stress,during what will already be a difficult time in the event of your death.
Thank you the authors at Legacy Law Center for providing their insight on estate planning.