Why It Is Important to Have an Estate Plan
Creating an estate plan is an important step in making your wishes for essential matters known when you can no longer dictate them yourself. Your estate plan can address three primary issues:
- Guardianship: What will happen to your minor children if you can no longer care for them
- Healthcare and life support: Who should make decisions about your healthcare should you become incapacitated
- Wills and trusts: What will happen to your possessions, assets, and property after you pass away
Without an estate plan, the court would make decisions about these important matters for you, which can lead to an emotional experience for the family members and friends you left behind.
Unfortunately, you never know when the end of your life will come. However, establishing a detailed estate plan now can ensure your wishes come to fruition after your death.