Why it’s so important to start estate planning while you are still young.

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Not just the elderly need to be concerned with estate planning. Maybe you are a single mother or father with children and want to make sure they are taken care of properly. College students who own a car and a bank account. How about a couple without children, that own a house, have a joint bank account and land in a different state. While each one of these situations is indeed different they all have one thing in common. Each one will require the help of an estate planning lawyer to make sure their wishes are carried on after they pass on.

With a properly planned and organized estate plan your loved ones won’t have to bear the emotional stress of trying to carry out what they think you would have wanted. By starting your estate planning early you are not only cutting down on the stress and emotional stress of your family but you can be assured that your wishes are carried out.

A few things that may arise if you don’t have a proper estate plan before you pass.

  1. Your surviving family may incur tax burdens as well as expensive probate costs and fees.
  2. Without an estate plan your estate may get hung up in probate after your passing, causing more heartache for your loved ones.
  3. Having a proper estate plan in line will help prevent creditors from getting greedy.
  4. Without an estate plan you are leaving the decision up to your surviving family to choose who receives your assets. This can be a very emotional and stress full decision. With a proper plan you will be able to state who will receive what asset and any circumstances that go along with it. Think family heirlooms and prized processions.
  5. In some cases with the proper estate plan you are able to distribute your assets to who you want to before your passing. This cuts out some of the emotional stress your loved ones will incur.
  6. By having your estate plan in place, you may help to ease the emotional stress on family members from the rigors of planning a funeral and paying extensive fees that are often associated with them.