Estate planning services are important for everyone of all ages, gender, and health. Sure, they become increasingly more important the older you get as your chance of death inherently increases, but it’s never to early to start thinking about writing a will and keeping your beneficiaries out of probate law. Here are three slightly uncommon reasons to hire estate planning services today.
1.) Healthcare Power of Attorney: Unfortunately, a lot of people don’t have a health care attorney named. Currently, about 38% of adults have one. Even worse, many people don’t even know what they are. This is the person you select to make healthcare decisions for you should you become incapacitated in anyway. Something you never want to think about, but could very well happen to you at any point. Make sure you have someone you trust named so that you can be confident your best interest will be looked out for.
2.) Little Known Facts: There are quite a few things many people don’t know about personal estate planning. One of them is that federal estate taxes can be taken from you after death if you are worth more than $5.43 million in 2015. Fortunately, (kind of) this only affects about 0.3% of estates. Another thing a lot of people don’t know is what happens if a married couple dies without a will. Typically, the second-to-die spouses family will inherit everything. This includes any wrongful death claims. The first-to-die spouses family is left with nothing but potentially empty promises. Don’t let your in-laws take everything, get a will.
3.) Pets: There is a place for pets in any complete estate planning services as well. Most people want someone to care for them after they’re gone, but don’t think it’s important to include their wishes in a will. This can lead to disputes over who gets them, or the even sadder alternative of no one wanting them and being abandoned. Of course many time these pets are euthanized.