If you are young, you may not think much about estate planning. You may figure that you have plenty of time to do this, and you may not see the importance of doing this now. However, there are several reasons that you should go ahead and speak to an estate planning attorney. Consider these three reasons that you should not put off this important matter any longer. If you own any assets at all, you should have estate planning in place.
Plan for the Division of Your Assets
As a probate lawyer from a firm like Yee Law Group, PC can explain, after your passing, your family members need to know how to divide your assets according to your wishes. With a will, you can outline how you want your property and other assets divided. This will help avoid any confusion or conflicts that may arise when dividing your estate. Even if your estate is small, it is essential to have this plan in place. You may need to make changes to your will over time, but it is important to already have a plan in place now.
Outline Custody Arrangements
If you have children, you need to plan for what will happen to them in the event of your passing. You should have custody arrangements planned so that the transition is as seamless as possible. If you do not have a guardian stipulated, there will likely be difficulty placing them with a family member after your passing. To avoid this difficulty, you should already have a guardian assigned so there are no questions. You can change this person as needed, but you need to at least have someone listed as a guardian in your will.
Get Established With an Attorney
You will likely need to make some changes to your estate planning over the years, and it is a good idea to stay in touch with an attorney. If you start planning your estate now, you can develop a professional relationship with your estate planning lawyer as time goes on. This way, you can easily contact him or her when you need to make changes to your will or other estate planning documents. You can ask for recommendations from friends and family members for who you should contact.
If you have been putting off estate planning, stop procrastinating. Talk to your estate planning lawyer today to find out what steps you need to take now. Having this in order can give you peace of mind about the days ahead.