The IMPORTANCE of ESTATE PLANNING
Death is not something people enjoy talking about, but something everyone has to face. Many people do not prepare for their finality. Unfortunately, many people are misinformed regarding what becomes of their estate at life’s completion. Needless anxiety, exaggerated costs, and red tape are often the result of having no Will or Living Trust as courts can determine everything from property settlement to child custody issues.
* Over 70% of Americans completed their lives without any form of Estate Plan (Will or Living Trust).
* Millions of people have died due to COVID -19, Hypertension, and Diabetes
THEREFORE, IT IS ESSENTIAL TO HAVE AN ESTATE PLAN IN PLACE!!!
Estate planning is one of the most important steps any person can take to make sure that their final property and health care wishes are honored, and that loved ones are provided for in their absence. Though often overlooked or put off in favor of more immediate concerns, a comprehensive estate plan can resolve a number of legal questions that arise whenever anyone dies: What is the state of their financial affairs? What real and personal property do they own? Who gets what? Does a personal guardian need to be appointed to care for minor children? How much tax will need to be paid in order to transfer property ownership? What funeral arrangements are appropriate?
An Estate Plan is designed to help you to achieve three (3) major goals:
* Transfer your estate to the loved ones of your choice upon your demise without the expense and delay of probate.
* Protect you from a guardianship if you become disabled.
* Ensure that your healthcare desires are achieved if you become physically and/or mentally challenged.
At a person’s demise there are certain typical problems, which if not planned for, create a burden for your loved ones who are left behind.
An experienced estate planning consultant can explain all options available to you in meeting your estate planning goals and fulfilling the needs of your loved ones -- whether you need to revise an existing will or create a comprehensive estate plan from scratch.
Schedule a Consultation with Attorney Karmen Booker
Call (240) 273-2584