This holiday season, there is something that you can give your family that might not seem that attractive of a gift at first. However, having an effective and updated estate plan in place will do more for your family than you – or they – might realize. There are many ways that an estate plan can benefit your family, including:
- If you become ill or injured and cannot make your own decisions, they will not have to wait for the court to appoint a guardian for you to take over your affairs. This is because your estate plan should include powers of attorney for both healthcare and finances.
- With a valid last will and testament, your family can present the document to the probate court. This makes it simpler for the court to appoint a personal representative (who you will designate) and determine how your property will be distributed.
- If you have a living trust, most of your property should be able to skip probate and be distributed directly through the trust.
Your family can save stress, time, energy, and money if you have an estate plan. This can be particularly important if they are already dealing with a tragic loss or incapacitating medical condition in the family. Many people underestimate how much having a proper estate plan can be a gift to their families.
An estate plan also needs to be comprehensive and enforceable, which means that you should always have a Greensboro estate planning lawyer assisting you with this process.
Speak with a Greensboro Estate Planning Lawyer Today
If you are considering drafting an estate plan or need to update an existing plan, never hesitate to consult with E.J. Boswell Law Office. Contact us for a meeting to discuss your estate planning options and the many benefits of having the right plan.