5 Reasons To Create An Estate Plan Today
Regardless of your age and net worth, many people don’t realize that estate planning is for everyone! Well, you may be thinking, what are the benefits of estate planning? We’re glad you asked! As everyone knows, tomorrow isn’t promised so it’s best to be as prepared as possible for today, in case there is no tomorrow. That’s why our team here at Grand Strand Law Group has come up with 5 reasons why you should create an estate plan today.
Loss Of Capacity
If something terrible happens and you become incapacitated and unable to take care of your own affairs, an estate plan assigns a person in charge of your affairs.
Transfer Of Estate
If you were to pass away without an estate plan, all of your assets can be subject to delays and taxes in probate court. An estate plan can protect all your assets and allow you to avoid probate court entirely.
Having children is a big reason why young families go ahead and create an estate plan. If you have children, ask yourself, who will take care of them if I or my spouse passes suddenly? An estate plan allows you to assign a person in charge of taking care of your children if you were to pass.
Without an estate plan, the children from different marriages may not be treated equally (in the eyes of the law) as if they were your own biological children. Having an estate plan gives you the freedom to layout your wishes as you please.
Avoiding Probate Court
An estate plan will allow you to avoid extra taxes and penalties that you’d otherwise be subject to without one. Ask our team how to get started!
Whether you’re new to the estate planning process or have one you’d like to revise, our legal team here at Grand Strand Law Group in Myrtle Beach, SC is here to help any way we can! Click here to learn more about the estate planning and probate process. Don’t hesitate to reach out with any questions you may have or to get started!