What is estate planning, and why is it important?
Answer:
Estate planning helps you put legally effective instructions in place for your property and family concerns before a crisis occurs. Our attorney emphasizes planning while you have time and capacity, especially after marriage or the birth of children, and reviewing documents as circumstances change.
Estate planning is easier to address before an urgent or stressful situation arises. Our attorney encourages clients to prepare their documents while they have the time and ability to understand the decisions involved.
Major events such as marriage, divorce, a new child, or the death of a close family member can create reasons to prepare or review a plan. Waiting until a crisis may make those decisions more difficult.
For parents of young children, planning can include expressing a preference about who should care for the children if the parents die. A nomination is an important planning step, although any required court appointment follows applicable law.
An estate planning attorney can help identify the documents and decisions suited to your circumstances and review them as your family and priorities change.