Life can come with unexpected twists and turns when we least expect it. Unfortunately, tragedy is not something we can avoid. You are not alone if you do not have an estate plan in place. In fact, during the pandemic, it was revealed that 68% of Americans do not have wills. Estate planning is not something that should wait until a specific time. Here are some reasons you should create an estate plan as soon as possible, regardless of age.
Assigning Power of Attorney
Power of attorney designates a person of your choice to make decisions on your behalf in the event that you are unable to. Without a power of attorney, the courts appoint a guardian to take that responsibility. Having a power of attorney will provide you with the peace of mind that your finances and healthcare choices are being carried out based on your preferences.
With a power of attorney, your family can avoid the tedious and expensive processes that are necessary to obtain the proper documents from a judge in the case you are unable to.
Protect Your Family
Estate planning protects your family from the ordeal that is passing without a will. If everything is detailed to your specifications, there will be no question about how to deal with your estate on top of the grief they are already going through. Estate plans allocate more than just money. They detail as many particular parts of your estate as you choose. You can assign legal guardians for your children and even detail where you would like your car or favorite jewelry to go in the event of your passing.
Estate planning will also lower the costs associated with distributing your assets. Without estate planning, the process can take months to settle, increasing costs and stress to your loved ones.
Avoid Probate
Probate is a legal proceeding that authenticates your will and names your executor. With the help of professionals, your loved ones may be able to avoid going through the courts. When working with the right estate planning lawyers, you will be able to set up trusts and avoid the lengthy probate process.
Estate Planning Lawyers in Las Vegas, NV
Located in Las Vegas, Nevada’s The Lakes Business Park just outside of Summerlin, Johnson & Gubler, P.C. is a full-service legal firm specializing in bankruptcy, business law, corporate law, complex commercial litigation, creditor rights, collection law, contracts, insurance law, real estate, landlord law, personal injury, wills and trusts, estate planning, water law, foreclosures, construction law, mechanic’s lien, and more.
It does not matter if you think you are too young or don’t have enough money. A strong estate plan will protect you and your family during uncertain times. If you want to plan your estate or help a loved one with theirs, contact our estate planning lawyers at Johnson & Gubler, P.C. in Las Vegas, NV, to learn more today. Take charge and plan for the future today.
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