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Home / Estate Planning / Do You Know Why You Need an Estate Plan?

Do You Know Why You Need an Estate Plan?

October 5, 2022 by Brandon McGee

Why You Need An Estate Plan“Why you need an estate plan?”  This is a common question that we get asked a lot.  Below, we talk about everything you need to know about why you need an estate plan.  It’s easy to continually put estate planning on the back burner. That’s especially true if you’re young and healthy.

While you may be able to get away with it, it’s a risk you shouldn’t be willing to take. Here are some of the issues that can arise if you don’t have an estate plan:

  • Your assets may not end up with the right person: If you don’t have a will, at the very least, your assets are distributed based on state law. This could result in them ending up with the wrong person.
  • No incapacity planning: One of the most important aspects of estate planning is deciding what will happen to you in the event of an incapacity. For example, who do you want to manage your personal finances? Who do you want to make medical decisions? Without this component of an estate plan, you never know what could happen at this time.
  • No guardian for your children: If you have children under the age of 18, you want to know that they’ll be cared for if you and your spouse pass away. You also want to have a say in who will raise your children. The best way of doing so with confidence is by naming a guardian. This is the person who will step in and assume the parenting role after your passing.

These are the types of risks associated with neglecting to create an estate plan. Despite the time and effort that it takes to create a comprehensive estate plan, it’s well worth it over the long run. It’ll benefit you and your loved ones in many ways.

If you require any assistance, contact our law firm for professional guidance. We’ll make sure that you feel good about the current condition of your estate plan and its ability to meet all your requirements.

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Brandon McGee
Brandon McGee
Brandon McGee enjoys a successful law practice focusing on estate planning, elder law, Medicaid preplanning and crisis planning, and probate. Brandon and his team combine legal skills with compassion and understanding to develop estate plans that are personalized to the needs of each of their clients.
Brandon McGee
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Filed Under: Estate Planning

About Brandon McGee

Brandon McGee enjoys a successful law practice focusing on estate planning, elder law, Medicaid preplanning and crisis planning, and probate. Brandon and his team combine legal skills with compassion and understanding to develop estate plans that are personalized to the needs of each of their clients.

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TESTIMONIALS

Client Review
May 25, 2021
    

Brandon McGee is knowledgeable, experienced and professional regarding Estate Planning. The entire process of multiple meetings to establish our input, draft and sign documents and fund the Trust were well organized and clearly explained. At completion, we were presented with a very well organized binder with the documents (both paper and electronic) and lists for future action.  In short, we find Brandon McGee and his staff to be competent, professional and friendly. ~ Brian C.

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