There is a simple reason for having an estate plan and that reason is your family.
While some things in life can get complex there is a simple reason for setting up your estate plan as discussed in the Herald Times Reporter “Estate planning: Why?”.
The reason for getting an estate plan boils down to the essential reason you do not want to leave your family with a mess. You do not want to make things difficult on the people you love, but that is what you do if you pass away without an estate plan.
With a proper, professionally drafted estate plan, your family should not have a difficult time administering your estate. They simply need to follow the legal documents or hire someone who can do that for them. However, without an estate plan, your family will have to sort everything out for themselves. They will not have a guide. Dealing with your estate will be more time-consuming and more costly.
Therefore, if you accept the proposition that it is possible you could pass away unexpectedly and soon, then it is time to get an estate plan. Getting an estate plan is not accepting that you will die soon. It is simply a hedge against the possibility and something you should do for the sake of your family.
An estate planning attorney can guide you through the process.
Reference: Herald Times Reporter (July 8, 2016) “Estate planning: Why?”
