Plan Your Estate Now, Avoid Conflict Later

Indeed, estate planning isn’t the most captivating field of law. Most people don’t want to consider the idea of passing away; it’s a difficult subject to address with one’s family as well. Still, estate planning is very important and will protect you or your loved ones an insuperable number of difficulties if tragedy strikes.

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Estate planning is usually seen as a thing the “rich” do but isn’t essential for ordinary people. This couldn’t be farther from the truth. Estate planning is the determinant for who takes ownership of your estate after you pass no matter what amount of property you may hold. It is also a plan that would address any familial conflicts in tragic situations when the death of a loved one arrives seemingly out of the blue.

Why is Estate Planning So Crucial?

Estate planning provides courts, and your close relatives, directions on how to handle your hard earned belongings. Whether it’s real property, family heirlooms, or money, planning your estate is the means of directing the way your matters should be managed after you’ve passed.

At the center of estate planning is assigning heirs to your assets. It doesn’t matter if your valuables are an investment portfolio or a summer home. Without the guide of an estate plan, the courts will distribute your property how they see fitting, which might not be what you expected.

Furthermore, families may hold very intricate relationships. A lot of the time those involved relationships rise to prominence after the loss of someone in the family. Siblings quarrel around who should have more, who deserves to be in command and how the last desires of the passed family member should be carried out.

By making a proactive plan and establishing your estate plan, you can instruct the way your assets and finances should be managed.

When’s a Good Time to Start Estate Planning?

It’s always a good time to start your estate plan! Life, as we know, can be unpredictable at times and it’s always good to be ready beforehand. When your financial situation shifts, you can easily renew your estate outline. Above all, having that plan in place is the most important part to relieving some of that pressure.

If you or a loved one feels ready to start or amend an estate plan, contact a qualified and insightful Greater Chicago Area estate planning lawyer at the Law Office of Andrew Szocka. You can reach us at our Crystal Lake office at (815) 455-8430 to lineup a consultation today.

 


 

***This is not intended to be legal advice and you should consult with an attorney.

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