While saying the words “I love you” is indeed romantic, you should know that putting together a well-crafted estate plan is a concrete way to care for your family in the long run. This is because doing so will help prevent your surviving family members from scrambling to figure out what to do next while they are still in the grieving process.
Act of Love
Below are several reasons why estate planning is really a final act of love for those you leave behind.
- Provides accessibility to all the right documents: Paperwork like a healthcare proxy, financial power of attorney, will, trust, and others are all in one place under an estate plan - or their location is at least identified in the documents;
- Puts someone in charge to fulfill your wishes: An estate plan allows you to chose the executor of your estate - whether it is a family member or another trusted person - who will conduct the administrative tasks of funeral, burial, debt payments and asset distribution so that others can focus on grief and healing;
- Provides for their future: Important issues such as taxes, debts, insurance, and asset liquidation are addressed in an estate plan so that the best decisions are made for the benefit of your heirs or beneficiaries;
- Removes family conflict: Expressly spelling out your wishes in a will, trust, and other estate planning documents often stops any bickering between family members before it can start; this is particularly true if you put your reasoning for the distribution in writing.
When it comes down to it, putting together an estate plan is truly about protecting your family at the time of your death or incapacity and preserving their future when you are gone. Indeed, while not as romantic as saying “I love you,” estate planning is a practical and wise way to show love for those you care about the most.
Estate Planning Help
Not surprisingly, each family's needs can be as unique as the individuals involved. Do not leave your family's future to chance. For these reasons, if you have any questions about how to create your estate plan or how to update one that is already in place, contact us right away.