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Lombard estate planning attorneyTelevision and movies are partially to blame for vast misunderstandings about wills, trusts, and other estate planning tools. On TV, the only people ever talking about a will are older wealthy individuals. Some people may even believe that only the rich should make estate plans. However, nothing could be farther from the truth. Estate planning is a step that everyone should take, regardless of wealth or status.

Estate Planning Saves Your Surviving Family Members Burdensome Decision-Making

One of the most overlooked elements about wills and trusts is the benefit that they bring to the surviving family members of the deceased. When a person without a will passes away, their surviving family and friends are left to guess what the deceased person would have wanted regarding property and final wishes. This is a lot to ask of people who are already suffering the grief of losing a loved one. Even if your will only covers a few small pieces of property, putting your wishes in writing saves your loved ones from the emotional burden of making inheritance decisions on your behalf.

Estate Planning Ensures that You Have Power Over Your Future

Estate plans do not only involve what happens after your death. Several estate planning tools—including powers of attorney and advance medical directives—address issues that could arise while you are still living. For example, a power of attorney for property is an estate planning instrument which gives a representative of your choosing the authority to make financial decisions on your behalf. This is vitally important if you ever become incapacitated through illness or injury.

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