3 Ways Estate Planning Sets You Free!
You know you need to do it. You know you want to check it off your list and to feel the satisfaction of follow-through. It can be a real burden lifted when you know that you have made a plan for the future.
The statistics around Estate Planning show that over 40% of people have no will in place. Those numbers rocket in the younger age bracket of 18-34. Given the rate of people who live forever, this lack of planning ahead is distressing when considering the personal conflicts, headaches and high cost of avoidance. So why do people struggle to get this key element in place and what are the positive consequences of getting your affairs in order?
Too Busy? No!
Imagine an officer stopping an adult driver with a child climbing around in the backseat of the car. When asked why the child is not protected by a car seat, the driver protests that they are too busy to buy one and install it.
The reason for restraints is for the unexpected event of a car accident and the reason for Estate Planning is even more compelling given the fact that your likelihood of dying is, well, 100%. The added eventualities of some level of incapacity surrounding health or financial decision-making effects around 68% of people 65 and older. Given these statistics, the creation of a Will to distribute assets, Power of Attorney to manage finances, and an Advanced Care Directive to manage health decisions make an enormous difference when the inevitable comes.
You will be glad you were not too busy to ensure guardianship of your children under 18.
You will be glad you were not too busy to name an executor who will make decisions in a way that was determined by you.
You will be glad that your preferences for medical and end-of-life care were followed.
Too Expensive? Too Expensive Not To!
It is true that an all-encompassing Estate Plan (Will, Revocable Trust, Living Will, Durable Power of Attorney and HIPPA Authorization) will be a financial investment. However, it may cost less than you might think. It is also good to remember that when we try to cut corners there are often “hidden costs” - costs in areas wellbeing and healthy relationships that are bolstered by a well-written Estate Plan. A trusted attorney can help you tailor documents that fit your exact situation and personal needs.
In our firm’s experience, clients find the cost of estate planning to be a small price to pay to gain the comfort and peace of mind that comes with knowing your family won’t be burdened with the cost and worry of picking up the pieces after you are gone.
Too Confusing? Not With Help!
Estate Planning can be complex, so seek out a trusted and experienced Estate Planning attorney that can analyze your estate and educate you on your choices. Their expertise will guide you towards what types of documents will best serve your needs.
This process at Hillsborough Wills & Trusts is really quite simple. In most cases, the planning process involves a free one-hour consultation and an information form filled out by the client. From this meeting, our attorney creates the necessary documents which are then reviewed by the client. Any necessary changes are made and a date is set for a signing.
Think…you could potentially complete the entire planning and signing process within a couple of weeks!
Don’t allow concerns about complexity stop you from addressing this important priority.
Our legal team at Hillsborough Wills & Trusts can support you as you Build Your Circle of Security. We can be contacted at https://hillsboroughwills.com/contact.