Do you have children or elderly parents at home? Estate planning is a must for all those who have a loving family whom they want to look after their death. Read more.
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Here Is Why Estate Planning Is A Must For You And Your Family
Do you have children or elderly parents at home? Have you saved for your family? Is your 'will'
If the answer to any of these question is ‘yes’ then here is another question that we want you to
answer: Do you have estate planning done for your family?
While you might think that estate planning is for rich people, it is for those who have millions of
money in their bank account, who have assets and properties, then think again…..Estate planning is
a must for all those who have a loving family whom they want to look after their death.
Without putting up in flowery words, the simplest definition of estate planning is “planning ahead
for your family in the event that something bad happens to you”
In spite of it being one of the most important securities that you can give it to your family, a lot of
Americans (almost 55% of the total Americans) underestimate the power of estate planning. And if
there is one state that underestimates it the most it would be Texas. Yes, estate planning in Texas is
not valued at all. Almost half of the population doesn’t know that leaving a will is very important for
your loved ones. It otherwise leaves the family vulnerable to court cases and costly legal battles that
are not everybody’s cup of tea.
Even though estate planning is needed on incapacitation or death, estate planning doesn’t have to
be morbid. It’s the hard to plan for something after your death, but it’s important. In fact, it can
actually be life affirming, because the whole process of estate planning will make you feel connected
to your family more and more. It will also help you ensure happiness, in the life of your loved ones.
Not just it ensures happiness after one’s death, estate planning helps to reduce taxes that are owed
and transfer the assets to the beneficiary without many hassles. Estate planning helps your family
achieve the financial needs that court won’t be able to give you. It also protects you from hiring a
probate lawyer and probate courts. Your case is directly solved by the judge.
Although you have read the benefits that you read above, the crush of your day-to-day activities in
caring for your loved ones may make the estate planning seem like of those important things that
you want but you want to it in the later phase of your life. Think again, before putting it off for too
Imagine, a mishap happens with you and you are unable to take care of your family with special
needs, who could step in and take the care of your child, just like you do?
Imagine your savings have to be spent on your own sudden illness, then how would you full-fill your
child’s long-term plan.
The answer to all these questions is ‘estate planning’ which will help you find the answer to the
biggest question “Who will take care of my kid when I can’t?”
ABOUT THE AUTHOR
Kate Livingston is an expert lawyer who also likes writing informative articles and blogs, helping
people understand the repercussions of their legal choices and actions and facilitating them in taking
corrective action. She recommends Albinroach.com as the name to trust if you are looking to hire a
lawyer in Plano, TX.