While thinking of one’s demise is certainly not the most pleasant thought, having all Ts crossed and Is dotted is crucial to everyone’s life plan. A solid estate plan can be an extremely helpful in the event of a family member’s death in that it can remove the stress of the unknown. Even with its helpfulness, however, there are still many aspects estate planning that may be less understood than others.
Estate planning concerns the detailed breakdown of one’s assets and property. Perhaps more importantly, however, is the power an estate plan can have after one has died. These plans detail the wishes of an individual in the event of death or incapacitation. This is usually done with the assistance of an attorney so that the protections and designations of the estate are sound and can be confirmed.
Although some may think that an estate plan isn’t necessary due to a person having little or no assets, this isn’t the case. As state above, estate plans involve more than just an itemized list of assets and property. Even if there is little to leave behind, having one’s wishes explicitly known can be of great comfort. It also helps take a huge amount of stress out of the equation for any surviving family members. With clear instructions, there are usually far fewer disputes.
No one enjoys considering their mortality, but planning ahead and having instructions in place can prevent a lot of heartache for those cared about most. At Prince Law Firm, our attorneys are compassionate and understanding of the stress involved in such matters and are dedicated to helping every person work through their estate in a level-headed way. For more information, please visit our estate planning page or read through our estate planning FAQ.