There is a common misconception that if you are not a millionaire there is no need to undergo estate planning. Somehow people have developed the notion that it only serves to help the super-rich. This could not be more wrong. Many states have laws in place that allow taking over and administrating the sale and disbursement of everything you own in cases where there is no will in place at the time of death. This can leave your estate in probate court for years and limit what your family receives. This article strives to show the importance of complete estate planning.

What Is an Estate Plan?

Estate plans are a set of legal documents that lay out a plan of action in how your material wealth and health will be handled if you become seriously ill, or die. These documents normally include a will, advance directive, and your choice of executors that will handle everything from making the hard medical decisions, distribution of any cash left behind to the individuals of your choice, and seeing that any material possessions end up in the hands of the people you have chosen and placed in the will.

Lack of proper estate planning can end up pitting one relative against another, which will cause the process to get hung up in a probate court for years. Lack of estate planning has literally ripped entire families apart. This is especially true when estates are valued at large sums of money and assets. Nothing can cause more immediate strife in a family than financial arguments. It can cause feuds that will last for many years to come.

Exercise Control with Your Estate

Taking the time to sit down with a estate planning lawyer and carry out complete estate planning is your chance to exercise complete control over what happens with your money, and possessions while you are in sound condition to do so. It is an act of kindness that will make your passing less stressful for all involved. Every detail down to the funeral arrangements can already be planned and ready to put into action.

Estate planning allows you to be very specific in the details of how personal items, money, stocks, bonds, cars, homes, paintings, jewelry, and anything of value is distributed. You can decide who would best manage your estate. You can feel confident that every decision going forth is set in stone long before you pass away. You can even have them interface with your personal injury lawyer. No one will be left struggling making the tough decisions.

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