Most people do not begin thinking about estate planning until they reach retirement age. The “normal” progression of life is to get out of school, get a job, get married, have kids, get your kids through college, retire, become grandparents, enjoy life… and then, after many fulfilling years, start estate planning. After all, who wants to start “giving away” assets while you still alive? However, we all know that real life is rarely tied into a neat little bow. People have children and don't get married, people get divorced, they marry more than once, or they may never marry or have a family at all. Life is filled with an endless number of choices to make and roads to travel.
Do Not Wait To Start Estate Planning
Death, however, is not optional, which is why estate planning is a topic that should be considered the second you have any assets to protect. None of us choose how or when we will die. Every time we leave our homes and get in a car, we are at risk of being in a fatal accident. Some people never even have to leave their homes, as fires and carbon monoxide poisoning take hundreds of lives every year.
Death waits for no one, and if you are waiting until retirement age to start estate planning, the unfortunate truth is you might not have that type of time. We take precautions to try and extend our lives for as long as possible. But what if those precautions are not enough?
What if you don't make it to the end of that "normal" road of life? What would happen to your loved ones if you died today? Would there be enough money to provide for them in the way you would want? Would they even be able to get to the assets you leave behind, or would those assets be tied up in courts, held ransom by attorney fees and court calendars? How long will they have to wait? And how much will they really get?
The Best Time to Start an Estate Plan is Today
Beginning the estate planning process does not mean you will die tomorrow, but it does put a secure plan in place just in case an emergency does occur. A well-thought-out estate plan can provide your family with financial security and peace of mind if a tragedy were ever to happen in your life. Isn’t being prepared now, better than letting your assets be held up in court because of the lengthy probate process?
Without an estate plan, which includes trusts, wills, powers of attorney, and other documents, your assets and property may not be distributed or used in the manner that you may have intended before death. Even if your family is in unison as to what should happen, the courts will ultimately decide who takes charge of your estate.
Start An Estate Plan Today at Elder Law Services of California
If you own a home, have children, are married and have any assets, now is the time to begin estate planning. Even if you are at the beginning of your career and do not have many assets, setting up healthcare and financial power of attorney document is an excellent way to get started. When you are ready to begin the process give us a call at Elder Law Services of California (855) ELDER LAW for a FREE consultation today. Our team of experienced attorneys specializes in estate planning. Take hold of your future today! We look forward to working with you.