Estate planning, the topic not everyone is comfortable talking about. We know and understand that because we have been there. We have been, at one point, unable to talk about it because of the sensitivity of the issue.
Estate planning IS for everyone. It is a misconception that estate
planning is only for the wealthy. That is NOT true.
An estate plan includes several legal documents that are important
and necessary if one becomes incapacitated or in case of death.
Health issues don’t only target the wealthy. Non-wealthy people
become sick too and can become incapacitated too and unable to
care for themselves. But if one becomes incapacitated and unable to
care for oneself, who will care for him or her?
If you become unable to decide for yourself, the court will have to appoint someone to make the decisions for you and care for you if you don’t have an estate plan. You will not be able to make that decision. The court will make it for you. The problem is that the court may end up appointing someone you don’t feel comfortable with or prefer someone else. And that’s why you need an estate plan. You need to take control of what happens if you become unable to care for yourself while you still have that control.
Upon death, and while most of us want to assume family members will get along just fine when dividing assets, the reality is not that beautiful. To prevent fights over your assets, you must have an estate plan. Leaving your loved ones to struggle and without ensuring their future will subject them to court proceedings and rough times trying to protect their rights.
Having an estate plan will ensure your loved ones are taken care of in addition to ensuring that you will be taken care of if you become ill and unable to take care of yourself.