Essential Estate Planning Documents

What’s Estate Planning and Why’s It Important?

Estate planning is the process of preparing for the management and disposition of a person’s assets while they are alive and after their death. Managing one’s financial affairs and ensuring your family is taken care of after you are gone is essential.

● Protect your loved ones

Estate planning helps to protect your loved ones by ensuring your assets pass on to your heirs. Without estate planning, a court will decide who will get your assets when you’re gone. Estate planning gives you complete control over your assets even in the event of unexpected illness or death.

● Protect your children

If you are a parent to young children, you should prepare for the unthinkable. Protect your children and make sure they are cared for if you die before they turn 18. Estate planning allows you to select guardians you trust for your children. You can also leave instructions on financial wishes and how your assets should be managed to protect your family’s interests.

● Avoid a mess

All is well until money is involved. Families have been torn apart when it’s not clear who gets what. You can avoid a mess by leaving instructions on how your assets should be managed and distributed when you are gone. You will spare your family a lot of emotional turmoil.

● Minimize expenses

Without estate planning, a court will have to decide how your assets will be distributed when you are gone. Court fees, attorneys’ fees, and taxes can easily eat into your assets and leave your loved ones with a financial burden. You can reduce the expenses associated with your estate by taking care of the estate planning yourself.

What Should You Consider When Creating an Estate Plan?

Estate planning often involves deciding how you will distribute your assets upon death. It is important to consider your current circumstances and consider any future changes that could affect the distribution of one’s assets. This means taking into account life changes such as:

1. Getting married or divorced;
2. Having children or grandchildren;
3. Acquiring new property or investments;
4. Incurring retirement costs (such as long-term care);
5. Dealing with debt or tax obligations;
6. Establishing guardians for minor children, should both parents pass away simultaneously;
7. Deciding who will be responsible for carrying out its provisions once you have passed away;
8.  And more.

TrustHandled’s user-friendly software will guide you throughout this process and help you accomplish everything mentioned above. If you happen to change your mind someday, or when your life’s circumstances change, as they often do, it’ll be as easy as logging in and updating your documents.

Secure Your Estate Plan Using TrustHandled®

Creating Estate Planning Documents is essential for anyone looking for peace of mind regarding their finances after death and protecting their minor children from becoming wards of the state if something were to happen before they reach adulthood. Our company offers these vital documents at a fraction of what it would cost through an attorney.

Finally, it is important to review one’s estate plan regularly – every year is recommended – to ensure that it reflects any changes in family dynamics or financial circumstances that have occurred.

TrustHandled® stores all your documents safely and is accessible to you or any of your designated administrators 24/7. By doing so you can ensure that your wishes will be accurately carried out.