If you haven't gotten around to taking care of your estate planning, it's time for you to take care of that. Having a proper plan in place will protect your estate and your family. An attorney can help you put together an estate plan that will ensure that everything is in place if you pass away. Here are just three of the reasons why having an estate plan in place is the best thing for you and your family.
You Know How You Want Your Estate Divided
If you own assets that you want to pass on to your loved ones after you pass away, you owe it to yourself to sit down with an attorney and work out the details of your estate plan. When it comes to dividing up your assets among your loved ones, you're the best one suited for that job. After all, you know what you own, and you know how you want your estate to be divided. If you pass away without an estate plan in force, it will be up to others – possibly the courts – to divide your assets among your family. Unfortunately, it probably won't be done the way you would have wanted it.
You Want to Save Your Family the Hassle of Probate
If you don't have an estate plan in force – or at the very least, a will – your family will be forced to deal with the probate courts. Unfortunately, this won't be a short, easy process either. In fact, it will probably be quite a lengthy, costly, and stressful process. Not only that, but because there won't be an active estate plan, creditors will be able to come in and get first rights to the money you've left behind. You can help your loved ones avoid that painful process by ensuring that you have an estate plan in force.
You Want to Stop the Government From Taxing Your Estate
You might not realize this, but if you pass away without an estate plan, the government could step in and levy exorbitant taxes against any assets you leave to your loved ones. The last thing you want is to have a large chunk of your assets eaten away by taxes. You can reduce the amount of taxes that will be levied against your estate by having an attorney create a detailed estate plan for you.
Don't leave your family to deal with the headaches. Contact a law firm, like Christena Silvey Coleman CSC Law, LLC, and work out the details of your estate plan as soon as possible. It will protect your family and your estate.