What is Estate Planning?
Even though estate planning will bring you face to face with the fact that you’ll one day pass on,
it’s extremely important. Not only does it protect your loved ones upon your death, but it can
also provide you with a variety of benefits while you’re alive.
While estate planning means something different to everyone, it typically includes a variety of
legal documents such as:
- Last will and testament
- Powers of attorney
- Nomination of guardianship
- Beneficiary designations
For example, if you have children under the age of 18, you’ll want to name a guardian. This way,
you can be sure that they’re raised by the right person should you pass on.
Do You Need an Estate Plan?
Many people look at their current situation and assume that they don’t need an estate plan. Just
the same, others assume that their family will take care of everything upon their passing.
While you’re not required by law to create an estate plan, it’s something that almost everyone
Think about if this way: If you have any assets, such as a home or bank account, you need an
And that doesn’t even take into account the many other things an estate plan can do, such as
protect you in the event of incapacitation.
Most people who neglect to create an estate plan take this path because they don’t know where to
start. They understand it’s something they probably need, but they’re unsure of the first step.
Fortunately, once you learn more about the estate planning process, including the benefits and
the types of documents you can create, you can take steps to protect yourself and your family.
Once you have an estate plan in place, you’ll feel better about anything the future can bring. This
peace of mind alone is enough reason to create a comprehensive estate plan today.