Start Today! 4 Reasons Everyone Needs an Estate Plan

Contrary to popular belief, the people who actually don’t need an estate plan are very few and far between. The truth is that if you want any control over who takes care of you or your children in the event of your incapacity or death, or if you want any control over who gets your things when you die, you need an estate plan. Still not convinced? We have compiled four reasons why the average Texan would benefit from creating a plan for his or estate:

  1. It will ease the financial and emotional burdens on your loved ones after you pass away. Passing away without a will, trust, or any other legal document that dictates how you want your estate handled means that your survivors will have to spend considerable time in the state’s probate court system – while simultaneously working through their emotions and feelings in the wake of their loved one’s death. Having a plan in place for your estate will minimize the time and money they will have to spend litigating your property and assets after you pass. 
  2. Your estate plan can name guardians for your children. It is said time and again that your children are your greatest assets. Protecting your greatest assets means naming the individual who will care for your children should you pass away while they are still minors. If not, you risk the judge naming a guardian you feel is not right for your kids. 
  3. An estate plan can communicate your end-of-life healthcare wishes. The unfortunate reality is that far too many people put off creating a healthcare directive or other estate-planning document that communicates to loved ones which medical decisions they want made when they lose capacity. In a healthcare directive or medical powers-of-attorney, a representative is named; this trusted personal representative is responsible for ensuring your wishes are carried out. 
  4. An estate plan can avoid guardianship. Without powers of attorney, if you become unable to manage your self or your financial affairs, your loved ones will have to go through the expensive process of court-controlled guardianship. With powers of attorney, the person you name can manage your finances and make important decisions for you when you cannot.

Contact Fraser, Wilson & Bryan
It can be a little disconcerting to consider a world without you, but you (and your loved ones) will appreciate your efforts to button up your estate plan while you still have capacity. For experienced and compassionate legal help accomplishing this task, reach out to our firm for a free initial consultation. We make the process easy!