Advanced Planning Gives Peace of Mind Against the Unpredictable and Unexpected
In estate planning, clients specify how to distribute their assets upon their demise, and to plan ahead should a time arise when they are unable to make their own decisions.
People are wise to do this. Most are at a point in their lives where these issues are important to them. Perhaps they are getting older. Maybe something happened to make these issues a priority. Sometimes because people have to deal with these issues with a loved one, they realize the importance of dealing with it for themselves.
Unfortunately, many people don’t do advanced planning. Either they never got around to it or did not think it was necessary.
This can cause in-fighting amongst family members and uncertainty about who should make decisions. It also adds cost because the Court often has to get involved to determine who was best suited to make decisions for someone who could not make them for themselves.
So when is the appropriate time to consider estate planning?
The answer is not definitive. It depends on the individual. But there is little doubt that it’s better to plan earlier rather than later, especially as it relates to designating someone to handle your finances and make health care decisions for you, should you be unable to make them yourself.
The purpose of having someone manage your financial affairs and make health care decisions on your behalf is that it can be needed for people of all ages.
Usually, unpredictable and unexpected events make it necessary to need someone to act on your behalf. Obviously, you can’t control such things. But you certainly can give yourself peace of mind knowing that you have control on who makes decisions for you, what decisions they can make and that the decisions will positively impact the quality of your life.
There’s more. With advance planning, the burden is taken off of your family members. They will have to deal with the unpredictable and unexpected. But at least they will not have to worry about how decisions will be made on your behalf, and who will be making them. Advance planning can save both you and your family the added expense of having the Court decide who should make decisions for you and what decisions they can make.
Remember, it’s never too early to plan ahead. Not only will it give you peace of mind, but it will also take some of the burden and stress off your family and friends.
They will know exactly what your wishes are, and who should be responsible for carrying them out. And so will you.