Why is estate planning important?

Estate planning is important because it puts decisions in your own hands, rather than having your loved ones deal with any issues if/when they arise.

 Estate planning includes planning for incapacity (e.g. car accident that results in temporary loss of consciousness and decision making ability or longer term dementia) in addition to planning for one’s death.

Incapacity planning involves creating powers of attorney, which is to say that you give someone else the power to make financial decisions and medical decisions on your behalf when you’re unable to do so yourself. If you do NOT create a power of attorney while you’re able to, then a loved one will have to go to court to get the right to be able to make those decisions. Yes, even if you’re married. Yes, even if it’s temporary. In other words, estate planning for incapacity involves avoiding costs, time, and headaches involved in not planning.

Estate planning for death involves ensuring that you have a plan that a) gets your things and money to who you want it to get to; b) avoids unnecessary court proceedings; c) limits costs and burden for your loved ones who have to manage your estate after you die.

Please contact me for a complimentary consultation to discuss what kind of estate planning you need.