4 Reasons Why Every Adult Needs an Estate Plan (Especially Parents)

While most people have heard of a Will, they probably do not know the full extent of Estate Planning. Estate Planning is the process of working with an attorney to create a legally binding plan for what will happen to your belongings and property (known as your estate) and your remaining money (known as your assets) after you pass away. It also has many more benefits and uses beyond just that.

Estate Planning is not something that you should procrastinate or something that you can just write out on a napkin and consider it done. Here are 4 reasons why every single adult in America should make an Estate Plan:

Give Yourself a Say

If you don’t create an Estate Plan, a Judge will determine what happens to your estate and assets after you pass away. This process is called probate. Without Estate Planning, you don’t have any say whatsoever in what will happen to everything you leave behind! Probate can be especially tough for blended families, since your step-children may be excluded from receiving any of your estate in court. Creating an Estate Plan allows you to make your own decisions, and rest easy knowing that they will be followed.

Protect Your Children

If you have minor-aged children, you can use your Estate Plan to choose who will raise them should anything unexpected happen to you. If you don’t create an Estate Plan, this is another process that will be done by a state Judge rather than someone who knows you personally. You can even list back-up choices if your preferred guardian is unavailable, and include morals and beliefs you would like them to be raised on.

Help Your Family Through Probate

Without an Estate Plan, the probate process can be long, expensive, and emotionally draining. As you can imagine, this is probably the last thing that your family would want to go through following the death of a loved one. Depending on what form of Estate Planning you choose, you can either significantly streamline the process or avoid it entirely. This is another way of making assurances knowing that your family will be protected after you are gone.

Be Prepared for the Worst

With Estate Planning, you can set a plan in advance for any medical emergencies that may happen unexpectedly. If you were to find yourself in a coma, you can set directives in advance for how you want to be treated and how your family should be taken care of. It is unpleasant to imagine, but it is better to rest easy knowing that you are prepared for the worst.

Get Started Today

There’s a lot more to Estate Planning than just writing a Will. It can help you protect your children, your loved ones, and even yourself in the future. If you are ready to create your own Estate Plan, contact C. Alvarez Law today! We believe in resolution beyond conflict.

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C. Alvarez Law

C. Alvarez Law is a Central Florida-based law firm that helps families find resolutions to their most complex family law issues. We are dedicated to providing the support and advice you need for a positive outcome and a better life. Before you can move on with your life, you need closure. Our firm is diverse, energetic, and passionate about delivering this for the clients who have placed their trust in us. Let’s work together today to find a better tomorrow.

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