4 Reasons Why Young Families Should Create An Estate Plan
While many people don’t think it’s important to have an estate plan at a young age, it can be very beneficial to your family if you were to, unfortunately, pass away. With summertime being a big transition period for young people and young families, this is the perfect time to reevaluate your current situation and plan for the future. That’s why our legal team here at Grand Strand Law Group has come up with four reasons why young families should create an estate plan!
Protect Your Family
If someone dies without a will, their property moves to Probate Court. The Probate Court appoints personal representatives to oversee your assets, guardians to control your care, and conservators to oversee your assets if incapacitated. To help make the situation less stressful for your family, an estate plan lays out all your wishes like, who you want medically in charge of you and in charge of your estate.
Choose How To Divide Your Wealth
No matter what your net worth is, an estate plan can still be beneficial. You don’t need to be wealthy! Whether you have kids, grandchildren, or no children at all, an estate plan is your way of detailing how you want your funds disbursed after you pass. Our legal team is always happy to help answer questions you have about the estate planning process.
Protect Your Wealth
With an estate plan, you can protect your family from having to pay a large tax on their inheritance. Without one, your family could be facing expensive tax consequences. Don’t worry – our legal team can help you determine the best estate plan for your family.
Lessen Stress On Your Family
We’ve all heard the horror stories of someone in the family with money passing away which starts a war with the family that’s left grieving. An estate plan is the best way to organize how you want your assets and property dealt with after you pass. To help better prepare your family, talk to them about your wishes and the details you want to be laid out in your estate plan.
While these are just a few of the reasons why young families and young people should have an estate plan, our team here at Grand Strand Law Group can tell you exactly how an estate plan can benefit you and your family. Don’t hesitate to reach out with any questions you may have or if you’d like to get started with the estate planning process!