Estate Planning & A Will For Your Family – What’s The Importance?
We don’t like to think about it. But death happens. People of all ages die from accidents, leaving behind friends, family members, and an estate. We all have possession that could make up our estate assets when we pass away. If you haven’t done any estate planning, do you know what would happen if you didn’t make it home today?
You Family Will Be Hurt
Your loved ones first have to deal with your loss.
But, unfortunately, legal and financial matters continue on even during their grieving process. Without an estate plan, family members fight through their grief to learn how to deal with the assets you’ve left behind.
Your estate plan isn’t just for you – it is for your family.
Your Family Will Have Questions
So many questions, so few answers. Maybe you’ve never talked to them about estate planning. They may spend time looking for your Will and other estate planning documents.
If your financial records are not organized, they’ll have to search for assets and financial accounts. They may have a hard time if you used a lot of online accounts. A digital assets inventory would come in handy right now.
Again, this is all happening quickly. They haven’t even adjusted to the fact that you’re no longer here.
You Family May Have To Deal With Intestate Succession
Your loved ones will probably have to hire an attorney. They may have to start probate proceeding to sort out your estate, depending on the size and value of your estate. Some of the money they badly need will go for attorney’s fees and court costs.
They can’t agree on who will serve as personal representative of the estate. Court hearings are held, and this slows up the probate. Your assets may be held in limbo until they can be released by the estate’s personal representative.
Make It Easier On Your Loved Ones
Leaving a good estate plan is a way of showing your family how much you love them.
At Keystone Law, we assist clients in developing an estate plan that meets their needs. We also assist grieving families with the probate process. Call us at (480) 418-8448. We offer services for clients throughout Arizona, including Chandler, Gilbert, Sun Lakes, Tempe, Phoenix, Mesa, Scottsdale, and Apache Junction.