Is Estate Planning Necessary?

No matter your age or health, you can benefit from an Estate Plan. Most people don't consider their plan until close to retirement age. We believe it is better to create a plan early. A good estate plan can last your lifetime and be flexible and amendable to change as your life circumstances evolve. You don't need to have a vast accumulation of wealth to justify an estate plan. Even the most modest estates can benefit from a simple, well thought out plan. One thing people often overlook is having a plan for their minor children. Designating legal guardians to prevent future family disputes may be the most important gift you can give your children.

Estate planning documents, such as trusts and health care directives, aren't just helpful to your family after you pass away. They also help you maintain control over your estate and health during your lifetime.

Won't my family just work it out among themselves?

You always hope for the best. The reality is that such an attitude is unfair to your loved ones and often forces them to make uncomfortable decisions. It doesn't take long to provide your family with clear instructions and an understanding of your intent. Often people believe they can make a simple plan themselves and don't realize they may have failed to consider the tax, legal, or control consequences of their actions. A quick conversation with an experienced attorney can provide you with the perspective and understanding of pitfalls with procrastination or DIY planning.

Learn more about Estate Planning by calling our Laramie, WY office now.