It is easy to assume estate planning is only for wealthy people. While it’s true that having large assets does prompt people to make sure their estate planning is in order, it’s just as true for you. No matter what your financial situation looks like, everyone needs to make sure their wishes are carried out in the event of unexpected events.
Everyone Needs These 3 Documents
There are three documents you need in your legal portfolio. These include an advanced directive to make healthcare and end-of-life decisions, a power of attorney to assign someone to manage things for you if you are unable and a will, to establish what happens to your assets and liabilities.
None of these need to be complicated if you don’t have children or an estate to leave, but all of them are critical to helping your family make decisions that fit with your desires. If you do have children, estate planning is critical. You need to choose who will take care of your kids in case of your death. Don’t leave such a vital decision to the courts.
How Covid Changed What is Crucial in Estate Planning
Covid has changed everything, and estate planning is no different. Because things can change dramatically, very quickly, your doctors and loved ones must understand how you want things done. You can relieve the stress of second-guessing your family would have to endure by making your decisions now, rationally and legally. So, please, help your loved ones help you in the way you prefer.
Why Should You Do Your Estate Planning Now?
The answer to this one sounds blunt, but it is true. Complete your estate planning now because you truly do not know what will happen or when. Schindel Segal Mendoza hopes you’ll be around for a good, long time, and one of the best ways to make that time more stress-free is to put your plans in writing with a professional attorney.
Schindel Segal Mendoza is a unique law firm in the Minneapolis area. We proudly say “unique” because we work to develop a long-lasting, personal connection with you, our client. So, if you know you need to create an estate plan to protect your family, please get in touch with us right here. Together we can get this critical task done so you can sleep better knowing your family is protected in an unpredictable future.