Even for those who realize an estate plan can benefit them, this realization sometimes comes too late in time — such as when an unexpected death or disability occurs. To avoid the stress of not having a proper estate plan in place, it would be wise to meet with an estate planning lawyer to help you at least draw up a basic estate.
If you look at the picture below, you will see that you have until you are mentally incapacitated by incident, accident, or dementia to create your plan. The only problem is you can’t predict when that moment will arrive.
The best time to create your plan is now.
An unexpected or long-term disability can often have greater consequences on your personal and financial affairs. Decisions such as who will handle your finances, raise your children, or make healthcare decisions on your behalf are extremely important.
Disabilities strike at random and quickly. One day you may be healthy and the next day something has happened that leaves you out of control of your life.
Disabilities come in many forms. They are caused by a variety of things. People have become disabled by falling off a ladder, playing polo, motorcycle accidents, slipping in the tub, just to mention a few.
This doesn’t include medical incidents like heart attacks, strokes, and dementia.
The post When Should I Create My Estate Plan? appeared first on DeWitt Law Firm, PLLC.
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ReplyDeleteprobate collin county texas lawyers are an essential part of estate planning and estate settlement. Individuals retain probate attorneys to execute their last will and testament. Estate executors can hire lawyers to draft and record legal documents through the court or to help with estate administration duties.
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