When you think about an estate planning firm, your first thought is generally that these exist for older people who are trying to get their houses in order before they depart. That idea is only partially right. Sure, everyone will benefit from what an estate planning firm can do for you no matter how old you are. It is never too late to start the process of estate planning, and about the only time where it is too late is if you die without an estate plan or if you have no capacity to make a decision. Because of that, you should not wait too long to begin this process because you never know when you will need to have your estate plan in place.
You know how hard you work for your money. If you are still working, you go to your job every day to put a roof over your head and food on the table. When you successfully manage to navigate between unplanned bills and expenses and your regular financial commitments, you can put some money away every month. Over time, with sound planning and good fortune, this becomes your nest egg. The goal is for your savings to grow over time and be there to take care of your family or your loved ones both now and in the future. While money should not be your only concern in this world, because of everything that you have to pay for, it naturally is one of the first things on your mind.
People worry about money in this world. It is a common fact. It is one thing to be concerned about money when you are here and may be able to do something about it. The worry is even greater when you are talking about a spouse or children who may not have the same ability that you have to make money. It is them who you want taken care of when you cannot do it. Your family is your future and you want it secured.
There are many things in this world that can drain your assets and shrink the amount of inheritance that you can leave to those who are important to you. Long-term care costs can eat up an inheritance in less than a year given the high costs of nursing home care these days. There can be other possible claims on your assets that you want to avoid, within what the law allows you to do, of course.
Not only do you have to worry about all of this, but you also have to think of what may become of you when you can no longer make decisions for yourself. There may come a time when you can no longer manage your own finances, and it is better to have someone else in control of these important decisions. Getting help from others as you age is not even limited to just money matters. You may not be able to make your own medical decisions or be able to make your healthcare wishes known to those who are treating you.
All of this can add up to your feelings of being exposed and insecure. This is where an estate planning firm can help you. You may think of the word “estate” as being associated only with what happens after you die. Yes, this is one part of estate planning, but it is not the only part of it. Estate planning can also cover things that affect you while you are still alive such as advance healthcare directives and living wills. Estate planning can even include planning for a divorce since any settlement would take into account the marital estate. You may not know that an estate planning firm can help you take steps to protect your assets for you to use and enjoy as opposed to having to hand them over to someone else.
Of course, it will help give you peace of mind to know that you have a plan in place should the unexpected happen. Working with an estate planning firm can help free you from the nagging worry of how your loved ones will make do without you. Many different aspects of your family’s life without you can be covered by an estate plan. This includes questions such as who would raise your children if the worst happens and how they will be raised. It could also include an issue such as a trust to care for someone who has special needs. Practically every obligation that you have right now can be provided for in an estate plan.
No matter how old or young you are, it is never too early or late to work with an estate planner. Even if your future is only another 15 to 20 years, there are still things in YOUR future that can be dealt with in an estate plan. A knowledgeable estate planner can help put things in place now and put your mind at ease. If you are a senior, you can enjoy your remaining years knowing that many things are taken care of. If you are younger, the estate planning firm will help you not only plan for the road ahead, but also to prepare for the worst possible outcomes. Contact Blake Harris Law today to take the first step to securing your future and that of your loved ones.