Estate planning allows you to plan for your loved ones in the event of your death or if you become incapacitated. Although many of us do not like thinking about it, death is inevitable, and it is better to plan ahead. At the very least, you should have a simple will that provides for the care of your children and/or the distribution of your assets.
If you die without a valid will, you die intestate, and your loved ones will be subject to the intestacy laws of the state of North Carolina (or the state in which you reside at your death). If this happens, the state will determine how the assets of your estate are to be distributed regardless of your desires. If you are not prepared, the loved ones you leave behind will pay the price.
Planning ahead will give you peace of mind and it will prevent your loved ones from encountering difficult situations during an already emotional and stressful time. Every person is unique, and your estate plan must address your specific goals and reflect your personal wishes and circumstances.
We can also help you maintain control over your financial matters and healthcare by preparing additional estate planning documents in advance, such as a durable power of attorney, a healthcare power of attorney and a living will. These documents allow you to choose in advance who you want to make financial and healthcare decisions for you if you are unable to do so in the future.
If you have already created an estate plan, it is important to review your estate plan every couple of years and make any changes necessary to protect your desires. Estate planning cannot be “one and done” — wills and other estate planning documents have to be revised with life-changing events, such as the addition of children to your family, marriage and divorce, in order to keep your estate plan in line with your wishes.
We would love to help you prepare a basic will or a simple estate plan that carries out your wishes and protects your family. We offer reasonable flat fees for couples and individuals. Contact Angel Simpson to discuss your estate planning needs.