Some Benefits of Estate Planning
There are several benefits of estate planning. The first benefit is that it is going to be the best way that you will be able to provide for your family once you are gone. If you don’t do the estate planning, then your family is not going to be able to get as much money and it is going to take them a lot longer to get that money. Therefore, your family might not have enough money to pay their bills when there is an unexpected death of a loved one. The estate planning can help with the finances.
The second benefit of doing estate planning tucson az is that it can make sure that your child is not going to go to child protective services if something happens to you. There are a lot of things that you will need to think about when it comes to your child. One of the most important things is who you would want to be their guardian if you or your husband is not able to take care of the child. You want to make sure that you are not leaving this decision up to the courts for your child.
The third benefit is that it can help to minimize your expenses. This is because if you don’t do the estate planning, then the court will have to do all of the handlings of your property. Therefore, someone is going to have to pay the court costs along with an attorney. This is also going to include the guardianship of your children. This can add up to a lot of money like $10,000 just for a small estate. That is money that you are going to want your family to use for their bills that they are going to have.
The fourth benefit is that your loved ones are going to be able to get to the property that you left to them a lot quicker. Without the estate planning, your family is going to wait up to 9 months before they are going to be able to touch anything that you might have left them. But with the estate planning, the family is going to get the money to pay for medical bills, the funeral, or anything else that needs to be paid for immediately in the event of your death especially if it is all of a sudden.
The last benefit is that your family is not going to be left to make some difficult decisions. One of these decisions might include if the machine is going to be unplugged if you are in a coma. Another decision is the handling of your remains once you have passed. All of these decisions can be very heartbreaking that you don’t want to face, but it is a good idea to plan for these things just in case they do happen. In the estate plan, you can talk about all of these things that you want to be done.