Having an estate plan in place is highly beneficial to you and your family. Though some people may not feel that a thorough estate planning is necessary, it’s far better to be prepared than to leave your family guessing after you’re gone. Let’s take a look at how making these preparations with a reliable estate planning lawyer can give you peace of mind as you age.
Estate Planning Helps You Provide For Your Family
If you don’t have a solid estate plan in place, it can be difficult for your family to easily obtain access to your assets after your death. Your loved ones may need money to pay your estate bills, such as a mortgage, taxes, repair and maintenance for your house, funeral bills, and final medical bills.
The financial strain of trying to come up with this money while waiting for your estate to settle adds to the emotional toll that your passing takes. If you are concerned about having your assets distributed quickly, you should talk to your local estate planning lawyer about estate planning techniques, such as a trust, that will allow your family to get some or all of your assets quickly, without going through probate.
It Can Help to Minimize Your Expenses
A solid estate plan can help you and your family members avoid costs, such as legal fees and taxes. Without a good plan, the courts will handle everything from the guardianship of your children to the distribution of your property. This can be a very costly procedure, with probate fees and attorney fees eating up a portion of your estate. Taking the steps to establish an estate plan in advance gives you the peace of mind that your loved ones will not face this financial burden.
An Estate Plan Makes the Probate Process Smoother
When you pass away, the probate process exists to oversee the settlement and distribution of your assets according to your Will. Without an estate plan in place, whether a Will or a Trust, this process can take a frustratingly long time and can not only cause your loved ones financial hardship, it can family strife and arguments. A proper estate plan will help to ensure a speedy transfer of your assets and make the entire process less stressful for your family.
Looking for an Estate Planning Lawyer in Carroll County?
DK Rus is your best resource assistance for estate planning in Maryland. With over 30 years of experience, she will help you design a plan that works to address your personal wants and needs in a cost-efficient manner. Contact us today for your free consultation and get the peace of mind that your family will be taken care of.