While estate planning is important for many legal and financial reasons, it can also be a proactive and powerful way to gain some peace of mind as you grow old. Below are a few ways estate planning can ease your concerns about the future:
1. Care for vulnerable loved ones. If you’re like most people, you probably have a family member who may need extra help. Maybe you have an elderly parent or a child with a mental disability. Whatever the case may be, you can use estate planning to make sure they receive the help they need long after you’re gone.
2. Choose caretakers for your children. Even if you’re not a single parent, it’s critical to have someone care for your children just in case you or your spouse is suddenly unable to parent due to an unexpected injury, disability or illness. With the right estate planning, you can make sure that your children are cared for when you are no longer here to care for them.
3. Ensure your wishes are respected. No one comes from a perfect family, but passing on without an estate plan in place increases the possibility that your loved ones disagree over the use or distribution of your assets. By appointing a trustee for your estate, for example, you can ensure that your wishes are followed and that your estate is distributed in an orderly manner.
Don’t let the task of estate planning fall by the wayside, your peace of mind is depending on it. I have had the privilege of helping many people who plan in advance and have peace of mind that comes with planning their estate. And, I will be glad to help you and your family as well.