Caring for your family is the reason you may work so hard. You have spent years creating a strong financial future to enjoy. Have you thought about what happens to your plans in the event of your untimely death? Estate planning is something that should rank high on your list of things to do. When your family’s wellbeing is at stake, consider the reasons why taking some time to make decisions now could mean all the difference in their future.
Distribution to Heirs Is Delayed
When a person dies without an estate plan, the property, assets and death they owned are held for disposition until the probate court decides who gets it. Many states call this dying intestate, meaning dying without a will. If you are married, many times, the state may automatically release these accounts to your spouse. However, as an estate planning attorney service Ponte Vedra Beach FL might tell you, this is not always a guarantee, especially if it is a second marriage.
Someone Else Decides for You
Crafting an estate plan means you get to decide what happens before and after your death. Not only do you get to make end-of-life care decisions, but you also get to decide the people who benefit from your hard work. When you die without a will, it means leaving those decisions up to the court. Ultimately, someone you don’t want inheriting may wind up with a windfall.
Give Your Family Peace of Mind
It is difficult enough to lose a loved one. Adding the stress of dealing with an estate without a will only make it worse. Creating a will takes one stressor away from your family’s hands after your death. It helps keep the in-fighting and frustration at bay.
You may not want to think of a time you won’t be around for your family, but for their sake, you need to. Sit down and get a solid plan down to help everyone move forward after your death.