Why is Estate Planning Important?
Estate planning is important because it allows you to simplify what happens with your property after you pass away. Putting together an estate plan can be the most important step to ensuring that the money you have worked so hard to accumulate is protected during your lifetime and after you pass away. There are many options when it comes to setting up an estate plan, but most common are wills, trusts, and powers of attorney for health care and for property.
An estate plan can also significantly benefit your family and loved ones. In many cases, failing to set up an estate plan can cause your family to suffer the unnecessary time and expense of going through probate court proceedings in order to have your property distributed to your family and loved ones. Further, by putting together an estate plan, you not only avoid the time and expenses of probate court, but also make sure that your family is protected and that your money will benefit them – not their creditors.
Setting up an estate plan can seem overwhelming or easy to “put off”, however failing to set up an estate plan can prove to be very costly and time-consuming for your loved ones. For further information on estate planning, please click here. To speak with an attorney to further discuss your personal estate plan, please contact Bruning & Associates for a free – no obligation – consultation today.