The older you get, the more relevant and prominent this question becomes, and usually it is followed by a plethora of other questions as well. Is my family taken care of in the case of an emergency? Is my legacy and estate really protected should something happen to me? When considering whether or not to plan for your estate, the answers to all of your questions come to one resounding conclusion: Yes, I need an estate plan.
There are several reasons for doing so. You need to ensure that your estate is properly cared for and that a power of attorney is appointed for a will that you create. This will ensure that the estate gets distributed to the proper people and places and can eliminate any confusion on the matter.
You will also want to make sure that your personal wishes are carried out. In the event that you are unable to make decisions for yourself or any part of your estate, a proper estate plan can be your voice when the time arises. With an estate plan, you can provide the support and financial stability that your family needs in the case of an accident or sudden death in the family. This also extends itself to preserving your wealth for future generations.
The last thing that you want is for your estate to be in disarray when you are not around to fix it and that burden becomes that of your family. But creating an estate plan is no walk in the park, and is often regarded as one of those tasks that you seek professional help on. So for all of those do-it-yourselfers, this is one area that we recommend, no.
Contact The Law Offices of Jack S. Johal to have our Sacramento estate planning attorney walk you through this necessary process.