No one enjoys thinking about the end of life, or the possibility of becoming disabled at some point. However, it’s always best to be prepared in case such scenarios become reality, and this includes dealing with your estate and your belongings so that they are passed on to the individuals you choose in a timely manner.
Putting an estate plan in place is among the most critical steps you can take to protect yourself and your family. Not only does it allow you to keep control over your finances and belongings, it also alleviates the expense and delay that your loved ones will experience when attempting to deal with your affairs if you’ve become incapacitated or have passed on.
If your estate is left to your loved ones through a will, all of your belongings will pass through probate, which is typically an expensive and time-consuming process. Rather than you being in control of your estate, the court winds up talking control until everything is settled.
Many times the probate courts place your assets in limbo for weeks or months while determining the appropriate disposition of your estate, which ends up leaving your family waiting to gain access to the money to cover living expenses. Your surviving spouse and family might even have to apply to the probate court just to get the funds needed to pay for current living expenses.
Instead, with proper estate planning, you can avoid probate and make sure that your belongings are passed on to your loved ones right away, and without incurring major expenses or having the process go public.
Visit www.heritagelegal.com to find out how you can protect your estate so your loved ones don’t have to be put through the ringer to gain immediate access to your assets.