At some point in your life, you have likely lost a loved one and felt the grief that comes along with death. You may have even witnessed other family members struggling to make funeral arrangements or ensuring that they handle property division in a way the deceased would want. These difficulties can affect anyone who suffers such a loss, and if you would like to help your family avoid making uncertain decisions, you may want to create an estate plan to address a variety of end-of-life topics.
Funeral arrangements
By creating an estate plan, you could take steps to detail how you would like your funeral arrangements carried out. These details could range from caskets or cremation to what facilities should handle the needed tasks. By allowing your family to understand your wishes, they may find some comfort in knowing that the questions regarding your final rest already have answers.
Asset distribution
Because dividing up the property of a loved one after death often proves emotional and difficult for surviving loved ones, you may wish to take time to designate beneficiaries and heirs yourself. By doing so, you can ensure that individuals receive the property you feel they deserve, and you may also discuss the division beforehand in order to bequeath specific items to those who desire them.
Probate preparation
The probate process works to validate estate documents and divide property. If you wish for your family to avoid such a process, you may wish to place assets into trusts, which do not fall under probate proceedings. If you do not want to utilize trusts, you may want to set up an account that holds funds designated for necessary legal costs associated with the estate.
Naming guardians
If you have children, you undoubtedly want them to be cared for in the best manner possible, and though you may hope providing that care will always fall to you, you may wish to prepare for the chance that your children could need another guardian. The naming of guardians takes place in a will. Therefore, creating this document can help strengthen the chance that, in the event of your untimely demise, your chosen guardian will care for your children.
Many individuals may be hesitant to approach estate planning because the idea of dying and leaving their families behind causes them to feel anxious or unhappy. However, creating an estate plan may greatly benefit you in numerous ways. Estate plans address these few named topics as well as others, and with the help of an experienced attorney, you can ensure that you make your wishes known and that your plan is crafted to your specific needs.
