It is never too early to start thinking about your estate plan. Global events like the coronavirus remind us how precious every day is, and how important it is to have your estate plan in order so that your family and loved ones are honored in the way you wanted. This is not just because of a virus, rather it is really appropriate planning so that you are ready for anything that life can throw your way.
Those that pass away without a will are known as dying intestate, which means that your assets will be distributed to your heirs based on state statutes. State statutes often serve to distribute the assets in one’s estate equally, but that may not be in line with your intentions. Dying intestate takes away from your ability to leave the legacy of your choosing and can put more stress on an already expensive and emotionally difficult life event. The way you get to control the outcome is by creating an effective estate plan or will or will and trust so that you can ensure that the assets in your estate go to whom you wish. This is especially critical among families involving a second marriage where there are stepchildren present because under intestacy statutes those stepchildren will see to inherit nothing from their step-parent if he or she were to die without a proper estate plan in place.
It cannot be emphasized enough the value of planning for the future early for not only you but for your family. It doesn’t need to be done just when something like the coronavirus has put us all on watch for our loved ones. It can be done at any time. When that time comes, as hard as it will be, you and your family can take some solace in the fact that there are instructions and plans for how everything is to be dealt with. Here at The Probate Pro, we would be happy to assist you with those very plans. It is an honor to support you and your family to plan for future and ensure not only your legacy but your family’s well-being as well. If you have any questions about estate planning or probate, we are always interested in helping you and answering any questions. Call us toll free at 833-PROBATE or visit us at TheProbatePro.com.