Having an Estate Plan Can Secure Your Family’s Future

 Posted on September 27, 2018 in Estate Planning

Thinking about the end of your life is not an easy task, especially if you are still fairly young or currently in the prime of your life. Yet failing to do so can have serious consequences for you and those you love the most. Of course, you are not alone. In fact, statistics suggest that only about 40 percent of American adults have a valid will. Do not continue leaving your family unprotected. Learn how creating an estate plan can improve the future of your family and how you can create one that protects everyone’s best interests.

How Creating a Plan Can Protect You

People do not generally consider how an estate plan can help them, yet there are some clear benefits to having one. If, for example, you become incapacitated, a valid power of attorney can help ensure your wishes are followed. You can name someone you trust to make any medical decisions you have not already considered. It is also possible to assign someone to watch over your financial affairs. In short, an estate plan can protect and preserve your interests in the face of the unthinkable.

How Creating a Plan Can Protect Your Family

A valid and well-designed estate plan can protect your family, regardless of whether you have become incapacitated or have passed away. By having someone you trust assigned to your financial matters, your estate is preserved, even if you are incapacitated. By having a clearly defined will, you can save your loved ones the stress and worry of probate or long, drawn-out battles over who gets what. Your plan can also reduce the state and federal taxes that your family may have otherwise been responsible for paying.

It is critical that you avoid trying to do all this planning on your own. There are complex rules and regulations that can result in significant losses or legal troubles for your family and loved ones. Instead, you should work closely with an attorney who understands the challenges of estate planning. Your lawyer can help you come up with creative estate planning solutions to meet your needs and those of your family.

Let Us Help

Whether you need an entire estate plan or just a will, our firm can provide the guidance you need. Contact one of our skilled Lombard estate planning attorneys to get the process started today. Our team has many years of combined estate planning experience, and we are ready to work hard for you. Call 630-426-0196 for a confidential consultation.

Sources:

http://time.com/money/4581727/estate-planning-inheritance-leave-money-will/

https://www.caring.com/articles/wills-survey-2017