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Why you don’t want to wait too long to draft an estate plan

| Jan 22, 2020 | Uncategorized

No one can predict the future, but you can take certain steps that will allow you to have more control over things that may happen down the road. You can do this through estate planning, which includes drafting certain documents that let you make the final choice on important matters. Some of these matters include medical care you might need and what you want to happen to your estate after you pass. 

People may delay the estate planning process for many reasons. They may not think they really need to take this step because they are young and healthy, or they may assume they don’t really have enough wealth to make this a priority. In reality, delaying the estate planning process can result in difficulties in the future for yourself and your loved ones.

Now is the time to think about tomorrow

Even if you have no reason to think you may need an estate plan at some point in the near future, it is in your interests to have protections in place. It is not only about planning for what could happen if you pass away, but it also allows you to plan for a potential disability and outline the types of medical care you may want if you become sick or injured. Other factors you may want to consider include:

  • When you have a plan in place, it will reduce the chance of you and your loved ones experiencing complications in the future. It can preserve relationships and provide protection.
  • While it may seem unnecessary now, estate planning can show your loved ones that you care about their well-being and ensure they get the appropriate assets.
  • Estate planning is not just for after a person’s death. You can plan for a potential disability and even establish a trust that will help you pay for nursing home care.

There is no time to lose in making sure you have thoughtful plans in place for your future. Even a basic estate plan can give you peace of mind and ensure that you have a say over what happens to your stuff and with your medical care.

You get to decide

You cannot control what will happen in the future, but you can plan for it to the best of your ability. If you do not have a plan in place or you need to start the estate planning process, you may not know what to do first. An assessment of your case with an experienced North Carolina attorney can help you understand what you may need to do.