Estate planning is something that everyone can benefit from. A thorough estate plan can help ensure that your loved ones receive the assets you choose for them and much more. While proper estate planning can offer a strong safety net in your life, not everyone knows just how a strong will can benefit you.
Not even half of all Americans have an estate plan. Perhaps what prevents so many people from making a will is not knowing what a will can do for them. Here are three primary benefits that anyone can use in a will:
If you should pass on without a will, the following probate process may not have the results you would want. The government may allocate assets of yours to a beneficiary that you may have never otherwise picked. You can use a will to establish exactly who you want to inherit your estate and prevent any family in-fighting about who gets what.
Health care directives
A will is not only for the event of your passing. You can rely on your will to protect you if illness or injury keeps you from acting on your own behalf. You can use a health care directive to dictate if you consent to certain medicine, how long you want to remain on life support, and if you wish to be an organ donor. Your health care directive can also keep your loved ones from guessing while making a serious decision on your behalf.
If you have minor children or care for a vulnerable adult, someone will need to look after you are gone. You can appoint a guardian in your will to take the responsibility of looking after your loved one, and have the peace of mind knowing that someone will look after your dependents when you are gone.
Secure your future today
If you do not have a will in place or have not updated your will in a few years, consult with an estate planning attorney today. Their experience can help you draft a will that you can trust to look after your loved ones and your future.