While planning for your eventual passing may not be at the top of your to-do list, it is extremely important to have an estate plan in place that protects you and your family in the event of your premature death.
Such planning can alleviate any potentially serious issues that your survivors may face in the future. Here are a few ways that having a proper estate plan in place can ease stress for you and your family:
Having an appropriate estate plan in place will allow your family quicker access to estate funds upon your passing. It’s not uncommon for families without an estate plan in place to be left in financial limbo, unable to pay bills or living expenses while they wait for life insurance proceeds or other financial assets to become available.
Consulting with an estate planning attorney in Daytona Beach to set up your estate plan is a great way to take the first steps towards ensuring your family’s future financial health.
If you and your spouse become unable to care for your children due to an unforeseen accident, your children could end up in Child Protective Services until the court system is able to designate an appropriate guardian for them.
To avoid this potential calamity, it is important to design an estate plan that specifically designates a guardian for them should such an unfortunate event occur.
By having an estate plan in place, you ensure that in the event of your and your spouse’s death, your home and other assets will be passed to whomever you desire.
This setup avoids the potential for a home being put in foreclosure while ownership is decided in the courts. For assistance with this, consult a Daytona Beach real estate attorney. They can ensure that your home has the appropriate protection in place.
Attorneys in Daytona Beach, FL, can assist you with the difficult decisions that can arise if you become incapacitated. They can help you decide the answers to questions that you don’t want your family to have to deal with, such as:
An estate plan can provide answers to these questions so that your family doesn’t have to.
If a sudden accident leaves you incapable of caring for your financial affairs, an estate plan can designate a power of attorney for both financial and healthcare decisions to save your family time and money and ensure that everything is handled the way you would prefer it to be.
If you live in the Daytona Beach area, you can consult with an estate planning attorney for assistance in preparing an estate plan that covers all of these issues and ensures that you and your family cover all of the bases in the event of premature death or incapacity. Doing so will give you and your family peace of mind for the future.