Death and money are two of the most sensitive topics that even the most open families have difficulty talking about. It is even more uncomfortable if both topics figured in one conversation. This is the reason estate planning makes anyone uneasy.
It may not be a fun topic, but estate planning is an important conversation you need to have with your family. When you create an estate plan, you are protecting your loved ones in case something bad happens to you. In addition to that, here are some reasons to have an estate plan:
Ease the family’s burden
No one wants to go through the trouble of sorting out a legal mess in the wake of a family member’s passing. By creating an estate plan, you will lessen your family’s burden.
It can help you avoid entrusting the management of your asset to survivors who are not comfortable with the responsibility. You sure want to know about your survivors’ comfort level when it comes to taking on the task, so you can determine your next step in protecting your assets as well as the beneficiaries. Alternatively, it would be good to have a professional take up the responsibility. Think about consulting with an estate planning attorney in Spanish Fork about the matter.
Lack of communication regarding your plans could result in insecurity and disagreement in an already tough time. Estate planning allows your survivors to understand your intentions. This keeps them from making decisions based on incorrect ideas of what you would have wanted. Keep in mind that without your clear instructions, the issue of who receives what would have to be settled in court. This long process could take your loved ones through more stress and unnecessary conflict.
Even though estate planning centers on one’s incapacitation or death, you don’t have to look at it as a gloomy thing to discuss. It is actually a life-affirming process that allows you to take an intimate look at the people you care about and ensure their comfort and happiness in the long run.