One sad true inevitability for everyone is that one day, hopefully many moons from now, the fabulous light that is our lives will go out and we will all eventually pass away. Death is one common bond that all living things share alongside the love we have for the ones we care about. Though no one can plan how and when they will die, everyone can do what they can to protect the ones dearest to you. The importance of estate planning cannot be understated: leave your partner, family, and friends care free and protected when you leave this world.
If you do not have a living will, you need to contact an attorney to guarantee your final wishes are honored in they way you want them to be. Otherwise, the government and other vulture-like creatures come out of the woodwork to take a slice of the pie of a life that you spent a lifetime building.
In the era of same sex marriage, estate planning is essential for gay couples. You want to have the same rights / benefits granted to your partner in your final days, especially when it concerns medical decisions. It is always best to be prepared to protect your rights and assets to have your final wishes fulfilled. Estate planning is important with the overall estate settlement, and avoiding issues with family / lawyers, doctors, etc. Proper estate planning can help your loved ones avoid excess taxes, unforeseen creditors.
Another reason for the importance of estate planning is helping your family and loved ones avoid as much of the probate waiting period as possible. If your will specifies a direct transfer of possessions, your spouse and family can potentially avoid some of the hassle and time while the will sits in probate. Will’s are there to dictate exactly what you want done if you’re ever incapacitated and what will be done with your assets upon your death.
Don’t leave the ones you love behind with unnecessary stress and strife. It’s important to plan out your estate so that you go out just the way you lived: exactly the way you want to!