One of the most common questions I am asked, as an attorney is, “How will an Estate Plan benefit me now?” Aside from healthcare directives, which gives someone the legal authority to make healthcare decisions on your behalf, an Estate Plan is designed to protect your wealth and assets for your heirs. When done right, an Estate Plan will shield your loved ones, your wealth, and your family’s legacy for the future.
As parents, spouses, and partners we do so much every day to protect our families. We buckle our children into car seats, make sure they wear a helmet when skateboarding or biking, maintain our cars, drive carefully, make sure our family eats and sleeps well, save money for college, and generally work hard every day to make a better life for those we love. Yet, we fail our families when we do not take the time during our lives to coordinate protection for our finances and other assets; which can help alleviate some of the stress that is surely to follow our deaths.
If you do not have a Will or an Estate Plan, you are not alone. Research has shown 60% of Americans do not have a Will or an Estate Plan. AARP also reports that 64% of Generation Xers (ages 37-52) and 78% of millennials (ages 18-36) do not have a basic Will and have not prepared an Estate Plan.1
The most important step you can take right now to defend your family is to have a Will or full Estate Plan prepared by an attorney. An Estate Plan may consist of a Will, or a Trust, a durable power of attorney, beneficiary designations, letter of intent, healthcare directives, temporary and permanent guardianship appointments for your children, and fiduciary letters.
We pride ourselves in taking care of our clients, by providing timely, committed service and treating every client like they’re our only one. Protecting your family is an important responsibility. Don’t delay, take steps today to protect your family. Please give us a call, schedule your consultation, and allow us to help you, help your family.
About the Author Scarborough Law, LLC is a multidisciplinary practice born out of the founding partner’s frustrations with the delays and bureaucracy of traditional law firms. Scarborough Law, therefore, provides client-focused legal services aimed at recognizing the needs of their clients and delivering a superior personalized service.