The longer you ignore estate planning, the greater the risk of putting yourself and your assets in a compromising position. If you haven’t talked with your lawyer in Tampa about estate planning, then you need to do that now. Your lawyer in Tampa can tell you why estate planning isn’t just for wealthy people. It’s really for anyone that is looking to plan for the future, whether it is for their family or for their own health. People skip out on meeting with their lawyer in Tampa for a laundry list of reasons, leaving themselves unprepared and unprotected for the future. Take a look below at why you need to consider estate planning to be a high priority in your life, especially when it comes to making any future plans for you and your family.
- Asset Distribution – Against Your Wishes
If you skip out on estate planning, your wishes won’t be taken into consideration when determining who gets your things. Your assets will be distributed according to state laws, not your wishes since you never formally had them in a will. That means that your assets could be received by people that you might not have necessarily wanted to have them. So, if you want to control how your assets are distributed and who receives them, estate planning is necessary.
- Incapacitation – Who Makes Your Medical Decisions
In the event that you are incapacitated, it’s good to know who is making decisions on your behalf. Without an estate plan, you could be opening yourself up to having an estranged relative making critical decisions on your behalf. Additionally, if you don’t make your wishes clear it could lead to arguments amongst loved ones and possible court involvement. Speak with your lawyer about how you can legally name someone who will have the authority to act on your behalf if you are unable to, so they will have the knowledge and authority necessary to ensure that your wishes are carried out.
- Leaving Your Family to Struggle
Without proper estate planning your family could be left struggling to pay off debts and maintaining expenses. Meet with your estate planner today to go over how you can ensure financial stability for your family once you are gone. They may suggest life insurance coverage to replace your lost income, prepaying for funeral expenses, and various other options to take the financial stressors off your loved ones.
Skipping out on estate planning means leaving your legacy uncertain. Estate planning gives you control over detailing out exactly how you want your assets distributed, in a manner that you see fit. It is not too early to start estate planning now. Check out our blog for more tips and info. Contact Fresh Legal Perspective today by calling (813) 448-1042 and ask about scheduling a consultation.