As adults, to-do lists seem to get longer and longer. There are too many things to do and too few hours in the day. Planning for the future may be something that gets put at the end of the list time after time, and it may be one of those things that you seem to never get around to. However, it is very important that you do some type of estate planning. Every adult should have a will that explains what will happen to their possessions and family in the event of an untimely death. While it can seem like something that will never happen, it is better to be prepared instead of taking the risk.
Preparing for the Unexpected
If you go to work, you likely have to drive to and from your work site every day. You may have health problems that go undiagnosed for years. There is no way to completely accident-proof your life. The unexpected can happen at any time and leave your family wondering how they should handle your end-of-life affairs. When you have this already done, it can make a difficult time less burdening.
Protecting Minor Children
Every parent should be concerned about what will happen to minor children if the parents die unexpectedly. There should be written instructions for who the child will live with and how the child’s inheritance will be allotted. When these things are not clearly outlined, there can be confusion and disorder when placing the children with a relative. You should also make sure that the person you appoint as your child’s guardian is aware and willing to accept that role if necessary.
Leaving a Legacy
If you do not have a family, you may wonder why it is important to plan what will happen to your estate upon your death. However, estate planning gives you the opportunity to leave a legacy for yourself. You can donate your life earnings to a charity that you feel passionate about, and you can have the peace of mind that your life’s work will have meaning even after you are gone.
While your to-do list is always getting longer, it is important that you prioritize the care of your family after you are gone. If you have been putting off estate planning, do not wait any longer. Contact a lawyer, like an estate planning lawyer from Patterson Bray, today to make arrangements for your legacy after you are gone and you will have the peace of mind that comes with it.