Don’t Let 2020 End Without An Estate PlanDecember 8, 2020 10:08 am Leave your thoughts
If there’s one thing 2020 has taught us, it’s that we should expect the unexpected. Sadly, no one thought we’d experience a pandemic that would kill over 200k Americans. And because no one expected it, thousands upon thousands have died without estate plans. Their families have been left grieving and stuck trying to navigate an extremely complicated system.
Don’t let 2020 end without an estate plan. And, please, don’t fall into the trap of thinking that estate plans are only for the very wealthy. Average Americans need a plan.
Estate plans are crucial in helping to:
- Determine who gets what when they pass | don’t leave family members arguing over petty things
- Override previously written wills | make this your final say on your wishes
- Ensure minor children left behind are cared for | if you’re a parent to a minor, you’ll want to ensure your kids get what you want them to from monetary, material, and emotional perspectives.
- Protect family from messy disputes
- Shield assets from creditors
- Allow healthcare decisions that are aligned with your wishes be made | don’t leave people guessing over what you’d want; make it known.
Here at Cohen & Winters, we’ve seen the destruction that comes with not having an estate plan. Imagine passing away and your family left trying to piece together what you would want based on conversations with several people. It’s not just impossible, it is guaranteed to lead to conflicts and family strife.
Additionally, we’ve heard of many family fights over whether their mother or father should be left on a ventilator or taken off. These sorts of stories make the news on a daily basis. Ultimately, the decision shouldn’t be left up to family members – it should have already been made by the person on the ventilator. Of course, this isn’t a decision that can be made at that point, which is why it needs to be declared and documented before something serious happens.
No one wants to think about the end of their life, but the more thought that is put into it, the more peace that can come for you and family members. And, once you pass, your family can grieve knowing things were taken care of and handled according to your wishes.
By creating an estate plan you’re protecting your family members and ensuring peace for everyone. Need help with estate planning? Get in touch with our team and Attorney Winters would be happy to help you get started. We can do majority of estate planning through virtual meetings and can arrange for safe signing when the time comes.
Category: Estate Planning
This post was written by Cohen and Winters