When asked about financial planning for the future, most will focus on the next few months or years. Most do not think about long-term financial planning. As a result, many families and businesses are devastated by the loss of a family member or key business partner. Not having a Will or other proper estate planning documents can leave families and businesses in very difficult circumstances as they attempt to navigate the complex process of determining asset distribution and inheritance claims. Today's blog post will begin a two-part discussion of the benefits of estate planning.
For individuals and families, creating a Will offers several significant benefits, immediately and long-term. First, having a Will provides explicit instructions for how the estate is to be divided among family members, other beneficiaires and charitable institutions. Also, family heirlooms can often create confusion and contention among family members, unless a Will clearly establishes the intent of the owner. The proactive step of creating a Will reduces the disagreements and contention among family members.
A Will also can provide for guardianship over minor children should both parents pass away before the children emancipate. Selecting a proper guardian should be a very careful, well-considered act, and can benefit children immensely.
A Will can also provide for funeral arrangements, to avoid unecessary stress and confusion among family members who are already in a difficult situation.
Proper estate planning will give individuals and families the peace of mind that comes from knowing that the assets will be secure and their children properly cared for in the event of death. Christiansen Law Firm assists individuals draft Wills that help protect family interests and avoid future burdens and stress. The attorneys of Christiansen Law Firm will review all of the personal circumstances you face and will work with you to create a proper estate plan. For additional information on how Christiansen Law Firm can assist you with your estate plan, contact our offices in Houston or San Antonio today to schedule a free consultation.