Throughout life, you have undoubtedly wanted to find many ways to show your loved ones that you care about them. You may have bought gifts, done favors, spent time with them or carried out any number of other actions to express your love. What you may not have considered, however, is how creating an estate plan could also act as a beneficial gift.
Some individuals think of estate planning as a tedious affair that they can put off until they reach an older age. However, this plan can help you put your wishes on paper for end-of-life care and how you want your estate settled after death. You may still wonder how this could show your family that you care, but by taking the time to plan, you prevent placing them in difficult situations where they may have to make decisions on your behalf without knowing what you would have wanted.
Getting wishes on record
Now and again, you may make an off-hand comment to a loved one about how you would like your care handled in the event that you become sick, or who you want to receive your property if anything happened to you. While talking to your family about your wishes is certainly a valuable step to take, you should also make sure to get your wishes on record.
By creating formal documents, like a will, your desires become legally binding. Additionally, your family will have documents to work from rather than having to take someone else’s word that you said this or that.
Talk to your family
As mentioned, talking to your family can prove immensely beneficial when making your estate plan. You can give them the opportunity to ask questions and clarify aspects of your wishes, and you can determine whether any loved one has a particular interest in any of your assets. Additionally, once you create your plan, you can tell your loved ones where to find the documents. While a will and other records are legally binding, they cannot go into effect if your family cannot locate them when needed.
Talk to your attorney
You may feel slightly intimidated by the idea of estate planning, but talking with an attorney could help you feel more at ease. This legal professional can explain your planning options, what tools may suit your specific circumstances and how to keep your documents safe but also accessible.