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Many people dream of what they want to happen in their future, but few people actually want to sit down and make their dreams a reality. Estate planning is a huge part of a sound financial plan, and so why haven't you started on yours yet? Perhaps you don't have a lot of wealth or assets, or maybe you think you are too young to worry about it. If you don't have any children, you may think that you don't need an estate plan. The truth is that everyone needs an estate plan and the help of an estate planning attorney in Greenville, SC, or an area near you. Read on to find out why. Who Need an Estate Planning Attorney? You wouldn't procrastinate important work that needed to be done at your job, so why are you putting off getting your estate plan taken care of? Until you know exactly what will happen to your family, your estate, and all of your assets upon your death, your financial future is not secure. Read on to learn why you need an estate plan: - An estate plan will take care of you if you are incapacitated: If a health problem or accident occurs and you are unable to take care of yourself or communicate your wishes regarding health care, you estate plan will come into play. Your chosen individual will assume Power of Attorney, and the wishes you outlined in your estate plan will be followed. Your final wishes and funeral preferences will also be outlined in your estate plan. Many people have strong opinions about how their death is handled, but without an estate plan your wishes may be neglected.
- Everyone with a bank account needs an estate plan: Everyone needs an estate plan: the young, the old, the childless; everyone. If you are young with no children and relatively few assets, your estate plan may be relatively simple. Each individual needs to name Power of Attorney to someone they trust, and each individual wants their money (no matter how small the sum) to go to their designated beneficiary.
- An estate plan designates more than just who gets your money: If you have small children, you really need an estate plan! This plan designates who will care for your children upon your death. If you have children, you definitely want the peace of mind of knowing that your children will be cared for and protected.
- An estate plan can help you to support a charity: If you have a charity or organization that is dear to your heart, your estate plan can help you to support it with financial donations and other forms of support upon your death.
- An estate plan is an orderly and tension-free way to distribute your assets: A death is understandably stressful, and many family members may be distraught. However, there is no reason to cause stress and contention among your family members by expecting them to sort out your finances, pay your debts, or squabble over who gets what. An organized estate plan designates an executor of your will who will carry out your exact wishes. Additionally, an estate plan will help you to sort out your finances so that your loved ones are not stuck with debt upon your death.
- An estate plan may save you money: Having an estate plan in place may cut down on estate and transfer taxes. Additionally, your estate plan will help to avoid lengthy probate issues and costly attorney fees. If you are worried about the costs involved with hiring an estate planning attorney in Greenville, SC, or your area, take note that minimal fees today will ensure a secure financial future.
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