While it is not a happy thought to be planning for your last days here on earth, it is nonetheless the prudent thing to do. No matter how much or how little you think you might have, it is important to account for it when you are gone. Failing that, the government will do the deed for you, and that rarely works out in your estates favor. There are also end of life decisions to consider, along with children and other family members. The list of things to consider can go on and on, so it is important to understand the following three reasons why you should begin your estate planning now.
Your Dependents Need To Be Provided For
If you have any dependents at all, you want to make sure that they are financially provided for and protected in the event that you are unable to do so. With an estate planning attorney columbus ohio, you will be able to do just that. You can set aside a portion of your estate to make sure they are taken care of.
Account For Your Assets
You want to issue directives related to your assets so that your estate avoids tax penalties when you are gone. This will give your heirs much more in the way of assets. You have worked hard for what you have, so make sure it is divided as you want and not the government.
Issue End Of Life Directives
There may come a day when you are not able to make your own decisions. If you have any wishes about your end of life directives, it is time to make them now while you are still able to.
These three reasons alone should give you pause to begin planning your estate now. It does not matter how old or how young you might be. You never know when these decisions that you make today regarding your estate could come into play. If you fail to make them in a timely manner, you will end up leaving your loved ones with a mess of an estate, and you surely do not want to do that.