Most adults do not have a complete estate plan. We know—it’s expensive, time-consuming, stressful, and overall unpleasant to think about.
Not planning for your potential incapacity and your death is even more expensive and time-consuming.
If you die without a will or trust, you’ll lose control over who inherits your stuff and who will care for your minor children. The courts will likely step in—adding a huge financial and emotional burden to those dealing with your estate.
Your heirs and your wishes could be in trouble without proper planning.
If left up to the state to decide on how to distribute your assets after death, your heirs may find the outcome very distressing. Minor children could inherit part of your estate, and estranged heirs may be entitled to a portion of your assets. Those whom you wish to inherit your estate may end up with less than you wanted and less than they need.
When you don’t plan for your incapacity, you are creating a messy situation.
As we’ve mentioned in previous blogs, a complete estate plan addresses more than your assets and what happens after you die. It also will address your healthcare wishes and financial decisions if you ever lose the ability to handle your own affairs. If you do not appoint someone to handle your health and financial decisions, your loved ones may battle with one another for control or your financial matters may go unaddressed.
Not planning for incapacity leaves you vulnerable to the courts interceding.
The costs, both financial and emotional, of a guardianship and/or conservatorship can be overwhelming. With the right estate planning, this risk can be almost completely avoided.
You gain nothing by putting off your estate plan.
The team at Hurley Elder Care Law is experienced and equipped to help you create a complete estate plan. To learn more or to get started with your complete estate plan, contact Hurley Elder Care Law at (404) 843-0121 or through our website https://hurleylaw.wpengine.com/contacts/ for a complimentary phone consultation.
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