Why Procrastinating Your Will Is A Bad Idea

You probably know it's important to get your legal affairs in order, but you keep putting it off. It’s tough to think about death, incapacity, or who will care for your loved ones if you can’t. However, understanding what estate planning can do for you makes it clear that there’s no good reason to delay. Here are three key reasons to motivate you to create your estate plan.

Life Is Unpredictable

An estate plan is crucial for protecting yourself. If you become unable to make your own financial or healthcare decisions, a comprehensive estate plan will ensure that trusted individuals can make these decisions for you. Without an estate plan that includes power of attorney documents, your family may have to go to court to declare you legally incompetent, leading to a judge appointing a guardian to handle your affairs.

You Will Lose Control If You Don’t Take Action

An estate plan helps you maintain control over what happens after your death. Without one, state law will decide who handles your estate and who inherits your belongings. With an estate plan, you choose who will make your financial, healthcare, and estate decisions and how your assets will be distributed to your loved ones.

Save Time and Money in the Long Run

Estate planning can save you and your family a lot of money and hassle. Setting up your estate plan is often much cheaper than dealing with the costs of incapacity or probate. Without an estate plan, guardianship proceedings and probate can lead to expensive court costs and attorney fees, taking months to resolve.

In Summary

Creating and maintaining an estate plan is motivated by various life events. Whether it’s protecting your spouse or children or gaining peace of mind, it’s never too early or too late to build your legacy and make a lasting positive impact on your loved ones.