This time of year is dedicated to reflecting on what we are thankful for, and this year is no different, especially during these uncertain times. When you think about everything you are grateful for during the holidays, it’s likely your family is at the top of that list. Other things on the list could be your home, the job you work hard at every day, and items like meaningful family heirlooms or collectibles, and we cannot forget about pets! Regardless of what you’re most grateful for, you are going to want to make sure those things are protected. Our clients come to us to protect their families, and Thanksgiving is the perfect time to focus on how grateful we are for our families and loved ones.
Ways to Express Gratitude Towards Family and Protect Them
Providing protection every step of the way
In the event something happens to you, making a plan for your children, parents, and loved ones makes all of the difference. You want to let them know they were at the forefront of your decision making, and creating a robust estate plan that accounts for even the smallest details can provide them with a stable future. Without enacting a proper plan, your family can be left with difficult decisions, bombarded with probate costs, or left in the hands of the state. Let’s give thanks together this year, and take the guesswork away from the people you care about most.
Guardians for minor children
People who may suffer most from the lack of an estate plan are minor children, who look to parents for stability and safety. Without an estate plan, the state you live in will determine what happens to your children. The person who looks after your children’s future in your absence has a huge impact on the success of their future. There are different options to choose from and an established estate planning attorney can help to tailor your plan for their needs.
Wills and trusts
We cannot stress this enough, an estate plan is not just for wealthy individuals! In fact, sometimes people with moderate wealth benefit the most from creating one. You acquire wealth and assets throughout the entirety of your life. No one can predict the future, and every day is sacred. Whether you’re 28 or 82, you have assets you will want to pass down to future generations, without the fear that they will go to the wrong people. Creating (and updating) a will or trust will allow you comfort that your family will be safe financially if you are not there to take care of them.
Protecting yourself for them
If you are incapacitated and not able to make decisions for yourself, family members are left with a heavy burden. These could be financial decisions, health care decisions, or decisions about a family business. It is incredibly painful to deal with the loss of a loved one and adding the stress of trying to fulfill your legacy the way you would have wanted may be too much under the circumstances.
The purpose of an estate plan is to make sure that the things you cherish will be safe in the future. It gives you peace of mind in knowing that you and your loved ones will have some certainty during uncertain times. You can give thanks to your family during the holidays by creating a well thought out estate plan that will protect yourself and them. To get started on your estate plan, contact our legal office today.