Tuesday, March 12, 2019

Planning to Avoid Pain

You know that touching a red-hot stove burner hurts and it’s not something you would do.

Would you knowingly do something to cause you and your loved ones pain and hassles?

If you could do something to save them from unnecessary hassles and discomfort, would you?

Not having any estate plan can cause pain and hassles for you and your loved ones.

How bad can it be if you don’t have a plan?

Probate and Your Family

You can’t take it with you. If you don’t have a plan, the State has made one for you and their plan decides who gets what, how much, and when.

  • Your final affairs will be overseen by an impersonal Judge in Probate Court – on the Public Record
  • The State has already decided who gets how much and when. You’ll lose control of your final affairs.
  • Your family just wants to quickly transfer the property, but Probate is an expensive, time-consuming hassle
  • Your family will have the strain of Probate Court on top of the strain of losing a spouse or parent.
  • It will take at least 8 months to get done and involves multiple steps that have to be done in the right order

With proper planning

  • Probate is avoided
  • Your family gets a quick distribution
  • Your heirs are protected
  • Your and your family’s private affairs remain private

Incapacity

While not something we want to think about, who will mange your affairs if you can’t?

Who will have the legal authority to manage your affairs if you can’t?

Who in your family will have to step up and go to court and get a guardianship if you don’t plan?

If your spouse has dementia or can’t manage their affairs, who will help them out if you can’t?

Without a plan, your family will require a court order to manage your affairs. If they are dependent on you, will they be able to legally access the funds they need?

With proper planning, you decide who that is, and nobody must go to court and get a guardianship order. You avoid hardships on you and your family by being prepared.

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