Everyone should have an estate plan of some kind. Exactly what your estate plan looks like depends on you, your finances, your goals, and your needs. Here are the top three reasons why it benefits you to have an estate plan:
You Have a Plan For The Unexpected
Estate plans can help you and your family in the event of an unexpected loss of life or sudden illness. Having an estate plan lets you know that your children will be cared for by people you have chosen, and your assets will be used in the manner you deem best suited for your children's benefit.
Even if you don't have children, you should have a plan for what happens to the home you live in, who will be responsible for your pets when you aren't around, who gets the classic muscle car you have in your garage, your great grandmother's wedding ring or your favorite piece of art.
Provides a Plan For Physical Or Mental Incapacity
Estate plans cover much more than the future of your money. They also plan for your future if you become mentally or physically incapacitated due to an accident or illness.
A good estate plan includes a document known as a power of attorney, which allows you to appoint a loved one to make crucial decisions for you, should you become unable to do so. An estate plan can also set up a conservatorship to take care of you if you should become mentally incapacitated for an extended period of time.
Gives Your Your Loved One's Guidance After You Are Gone
Your family is at its most vulnerable after your passing. An estate plan provides specific instructions where everything you own is itemized, and all your wishes are laid out exactly as you wish.
It takes the decision-making, guesswork, and searching for documents out of the equation and saves your loved ones a lot of frustration and confusion. Imagine the peace of mind you can provide your loved ones by having your affairs in order.
Get Started Today
Native Americans face unique estate planning laws. To ensure you have the best possible estate plan for your future and that of your loved ones, it is in your best interest to work with a skilled Fargo tribal attorney.
Call Circling Eagle Law at (701) 401-7404 or fill out our contact form to set up an appointment with our team today.