Live longer, live better, live smarter. These are the three basic elements of modern society. While indeed Americans live longer and better lives than at any time in the past three centuries, living smarter is not always possible. The reasons are various: Fast paced modern life, exhaustion, a lack of time and money. According to a 2010 study by Harris Interactive, these are the primary reasons why over 65 percent of Americans choose to forgo estate planning.
No Estate Planning Means No Control
Hiring a Mineral Ridge estate planning lawyer might seem like a needless, even frivolous expense given the state of the economy. This is true, if one assumes that taking out insurance is also such an expense. A comprehensive estate plan prepared together with a qualified lawyer is the only way to ensure that you, your family, and people you care about are adequately protected in case of your demise or incapacitation.
Planning your estate isn’t merely allocating your worldly possessions. It is a comprehensive action plan that comes into play when you cannot make decisions on your own. For example, medical power of attorney, allows you to empower a person of your choosing to make medical decisions in your name, rather than leaving it ambiguous. If you die, estate planning also ensures that the right person is appointed as the legal guardian of your children and estate, ensuring they are properly cared for.
Doing It Yourself Might Only Hurt You In the Long Run
While some advocate doing estate planning on your own, doing so is likely to create a fundamentally flawed estate plan. American common law is a complex, multilayered structure that requires dedicated studies to properly navigate and create an estate plan that not only does what you intend for it to do, but ensures that no mistakes are made within it. For example, did you know that anyone who witnesses a will can’t inherit anything under its provisions in several states? As many reflexively ask family members to witness a will, it’s a fast and easy way to accidentally disinherit someone you care about.
An Estate Planning Lawyer is Just Helpful
Most importantly, preparing an estate plan with professional help ensures that the fate of your assets and family isn’t decided by the courts. While a judge will do their best to familiarize themselves with the situation and make the best possible decision, they do not have the insight you do.
Of course, an estate plan also prevents a years-long legal battle between your heirs and all the expenses and sorrow it includes.
Are you looking for an experienced lawyer who can help you navigate the byzantine inheritance law system at work in the United States? Contact John Grundy today and prepare for the future.
