No one enjoys contemplating their own demise, but every adult over the age of fifty should have at least a will instructing their family how to take care of their assets. It's also recommended that you consider leaving the will and instructions with more than one family member. With estate planning your final wishes have a better chance of being carried out and monitored by interested parties.
To head off any issues that would further upset your family, you may wish to consider estate planning. Considered the following issues before dismissing the idea of estate planning it's a difficult subject, but think of what your family will face after your death.
Disposal of Your Property - Laws vary from state to state and some states don't automatically give the estate to the surviving spouse. Would you want your family dealing with lawyers and legal fees? Many legal difficulties can be avoided with a proper legal will.
Who will Care for Your Dependents? - If you and your spouse should both die without a will, the state may be the ones choosing who is granted foster custody or guardianship of your remaining family members.
The Care of Your Pets - Who will care for your animals after your death? Often older pets are given to shelters after the death of their owners. Help your pet adjust to the loss of your companionship by making provisions for them.
Probate fees - Help your family avoid needless probate fees by having a will in place.
Taxes - The government will have its share of your hard-earned assets. Help your family keep more of your possessions through estate planning.
A Living Will - Consider having a Living Will in case you are unable to speak for yourself. Avoid getting your loved ones involved in long drawn out legal battles as to what your wishes are when you can no longer express them.
Preplanned Funeral Arrangements - Having a funeral plan in place will let your family members know how YOU want your remains handled and it will help ease the pain of having to plan your funeral.
These are just a few of the serious issues you can help your family avoid by proper estate planning. Estate planning will allow you to control how this part of your journey will end. In addition, if you make the decision to control the management of your estate, you will help ease the burden of your death on your family and give them time to grieve rather than spend time with lawyers. Consider estate planning your final act of love for your family.
Published by Anastasia Zoldak
I am an experienced freelance writer and researcher based in Chicago, Illinois. I have a degree in business, which I have used in a variety of industries including retail, manufacturing, information technolo... View profile
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