Nobody wants to think about death, but it is a smart idea to prepare for what will happen after you die. Estate planning is setting up the details of how you want your finances and other personal things handled upon your death. It is important for many reasons.
Gives You Control
Once you die, you have no control over what will happen. However, if you have drawn up documents and planned ahead, you can have control. If you fail to create a will and a plan for how your finances and things will be handled, then the state will step in and handle it for you, which could lead to legal battles over figuring things out.
Provides for Your Family
One of the biggest benefits is that you can make sure your family is taken care of. You can say who gets any money or property. If you have minor children, you can appoint a guardian. Estate planning gives you the chance to make sure that the people you love are not left trying to figure out what you wanted.
Estate planning is something that everyone should do, no matter your net worth. Everyone has things that will need to be ironed out upon their death. Planning ahead of time will make things easier on everyone. To learn more about estate planning, call Doherty Law Offices at 262-338-5721.