Who should have an Estate Plan?
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This video is for informative purposes only. It is not intended as legal advice. Small details can have big consequences. Want to know more about Estate Planning, schedule a free consultation with us.
In our opinion, everyone can benefit from an estate plan. That does not mean that you need to hire a lawyer to put documents into place, because an estate plan is more of a strategy. As long as you have a coherent thought out strategy on what would happen if something happens to you, then you have got a plan. Maybe this includes legal documents or maybe involves just having beneficiary designations, but everyone should at least have spent some time thinking about this.
There are some people where this is more important for them. If you have children that are minors, then it is important to figure out who should take care of them when you are gone. One of the worst case scenarios would be if something happened to you and having your remaining family fight over who is going to take care of your small children. That can create bad blood and tensions that you can avoid if you make proper plans for it during your lifetime.
The other piece of it is if something happens to you and you are in a hospital and someone needs to make medical decisions for you, if you have planned for that ahead of time and have the right documents in place, then that is a fight that does not have to happen and can help people step in when they would need to without unnecessary complications.
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