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Why Estate Planning is Important Life can be spontaneous and unpredictable. People make plans and those plans sometimes just do not turn out the way they expect. This doesn’t mean that one should not plan. Making a plan for what you want to do is a great way of staying organized. However, it is a concerning aspect that people tend to plan for stuff like vacations, dinner and lunch dated and very little is done to talk about what happens to one’s property after they pass on. Most people tend to avoid this topic because of how delicate it is. In as much as people don’t want to think about it, death is a part of life that is inevitable just like most other rites of passage in life. Preparing for death does not necessarily mean you are planning or want to die. It simply means you are putting the right mechanisms in place to ensure that what and who and what you care about is taken care of after you leave. A majority of those who are young and at the prime of life choose to ignore such stuff. The fact of the matter is, even a good majority of the elderly people are not as interested in discussing such important issues. Regardless of this, estate planning is essential and here are some reasons why it’s important to consider. Helps with Avoiding Family Feuds When One is Gone
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Once a family member has passed on it can be very frustrating when you have to deal with other family members fighting over property. What is even worse is having people who are supposed to be close to each other and consoling each other ripping each others hair out because of property that has been left behind. Such kinds of cases of wars that arise from disagreement over property are very common. Some may feel that the deceased owed them while others may feel that they deserve to be in charge.
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Sometimes the cases maybe so serious such that some members end up going to court. This is the whole reason why it is very important to have an estate plan. Estate planning allows you to make the decision regarding who takes care of your assets in case of death or incapacitation.They go a long way in ensuring that your property is handled properly and your family does not end up hating each other. It Gives You Control Over Your Assets Whether Dead or Alive Everyone likes to have control over their property. Having worked hard for something, means you want to have a say in how the funds are spent and who the beneficiaries are. An estate planning attorney can help you draft a will to help you have control over who gets what when you can no longer make those choices. This allows you to continue with your charity work even after you pass on.