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Why Do I Need to Plan for My Estate?

| Dec 4, 2019 | Firm News, Trust and Estate

The thought of estate planning – and even dying someday — can make some of us feel uncomfortable. Why Do I Need to Plan for My Estate? Estate planning may seem like a burden, but the process of facing the issues involved and outlining your plans can actually help you resolve everything and feel more at ease.

Estate planning is all about choosing what you want to happen to your estate after you pass on. You decide how to handle your assets while you involve the people you care about most. When you plan for your estate, you show that you love and care not just for yourself, but about those you love and their futures.

The sooner you plan, the better, before you ever become seriously ill, are about to pass away, or become incapable of making sound decisions. Because, if you don’t, Georgia courts may end up deciding who inherits your assets as part of probate law. And, if not all of your surviving relatives or friends get along, disputes can further complicate matters and lead them to contest your choices.

The estate planning process often involves creating and signing legal documents, which are the tools you use to make your final wishes known.

Your estate plan can involve deciding whether to have a will or a trust, who to appoint as a power of attorney, your medical wishes as part of an advanced directive, and so on.With proper planning, you get to name who will receive your assets after you pass on and who will make financial and medical decisions for you in case you become incapable. You don’t want to leave people guessing, or let others you don’t want involved choose for you, especially if you eventually can’t make decisions. You also want to spare your relatives and friends the anguish of deciding what to do with your assets after you pass away, and help them pay less tax, legal fees, and court costs.

Time is marching on. What you do or don’t do now will affect how those closest to you handle your estate after you pass on.

It can be tough to think about the future, especially when time is of the essence. But, you don’t have to plan for your estate alone. The knowledgeable and experienced estate planning and elder law attorneys at The McGarity Group are ready to help you. Contact us today.