by Tim Heileman | Rose Law Group pc Estate Planning Attorney
“Phew, what a relief it is to know that is done!” Whether you are 25 with your first young child, 55 and contemplating your retirement, or 85 and laying out the details of your legacy, the expression above is one of the most common I hear after my client’s execute their estate planning documents. It is estimated that 70% of Americans do not have an up-to-date estate plan, yet it seems common that, at the mention of an “estate plan,” those without an estate plan feel uneasy about how that may affect their loved ones.
It is National Estate Planning Awareness Week, and many who have lost a loved one can tell you why there is a general need for estate planning awareness. In case of death or disability, failing to have an estate plan can cause regretful heartache and difficulty for family members and loved ones. At best it can cause unnecessary expense and delay regarding healthcare decisions or the transfer of assets, but at worst it can tear apart families and create rifts in relationships that may never fully recover.
The benefits of having an effective estate plan are myriad. Among the universal benefits is clarity: clarity regarding who can make healthcare, financial, and legal decisions on your behalf when you are unable; clarity regarding your wishes for those who make such decisions for you; and clarity regarding the values you wish to convey to your loved ones and how those values should influence the use of your means. Another benefit is the peace of mind that almost universally comes when you know your affairs are in order, and the plan you’ve created truly reflects your wishes and hopes for those you love.
For more information about how your values can influence your estate plan, or how an estate plan can benefit your loved ones, please contact Tim Heileman at Rose Law Group pc to arrange a consultation.
