What Happens If You Don’t Have An Estate Plan?

It’s a brand new year, and planning for the future and setting resolutions is at the forefront of most of our minds. Estate Planning is one of those things that’s easy to put off because it can seem intimidating or difficult to understand, but it is one of the single most important tools to having peace of mind for your loved ones.

Preparing an Estate Plan should not be seen as a source of stress or anxiety but rather a source of security and controlling your assets. Here’s why:

  • You have worked hard to build and secure your assets, you should be the one to determine how your estate is divided after your passing. If you don’t have an Estate Plan, the legislature has created laws that will dictate who your heirs will be and how your assets will be divided amongst them. If you don’t want to leave it up to the legislature to decide for you, you need an Estate Plan.
  • Most people have loved ones they’d like their assets to go to (or in many cases people that they specifically do not want assets to go to). Creating your own Estate Plan allows you to include and omit or disinherit anyone that you choose. You are in control.
  • With a proper Estate Plan your estate can avoid probate, cutting down the time and expense of estate administration for your family and loved ones. Probate can be a long, expensive process that will take a minimum of six months, it will involve filing with the Court, getting a Personal Representative appointed and many other steps. With proper planning you can likely avoid having to put your family and estate through the probate process.

Don’t put it off anymore! Start today and you can have a fully completed Estate Plan in January, 2020.

Take control of your life, your estate, your assets and your loved ones financial security now.

It’s a simple process with an experienced attorney, and with just one phone call you can start your Estate Plan today, call the attorneys at OWENS & PERKINS at 480.994.8824 to schedule your FREE 30 minute consultation.