While most of us don’t like thinking about death, it’s still important to plan for. If you don’t establish a proper estate plan, it could result in many consequences for your loved ones. With the help of an experienced estate planning lawyer, you could draft an estate plan in a timely manner.
Here are some of the dangers of not having an estate plan.
If you don’t have an estate plan in place, your family members will definitely have to go through the probate process to obtain your assets. Probate can be a very time consuming and expensive process. If you set up a trust ahead of time, it will help your family avoid probate altogether, saving them money and time.
Wishes Not Met
Without any estate planning documents, you can’t expect your wishes to be met. Estranged family members or unintended beneficiaries may receive inheritances that you didn’t intend for them to inherit. If you have minor children and didn’t state who you wanted to serve as their guardian, the court will appoint a guardian. The person they choose might not be someone you approve of taking care of your children. By taking the time to draft an estate plan, you can take control of your life and ensure your final wishes will be met.
If you don’t have an estate plan when you die, it could create many problems within your family. They may not know your final wishes and have arguments with one another. For example, some family members may want to hold a religious funeral while others may want it to be more secular. If you clearly state all of your wishes in your estate planning documents, there may be fewer arguments among family members.
High Attorney Fees
If you die without an estate plan, your family members may get stuck with expensive attorney fees. An estate planning lawyer will have to help them through the probate process and may charge very high fees for doing so. If you establish a proper estate plan, you can help your family members avoid these expensive fees.
Consulting with an Estate Planning Lawyer
If you’re ready to create an estate plan, you should schedule an appointment with a reputable Sacramento estate planning lawyer today. He or she will help you draft an estate plan that ensures all of your wishes are met.
Thanks to Yee Law Group for their insight into estate planning and dangers of not having an estate plan.