It is true that you do not have much control over when you are going to pass away. Life is uncertain, and anything can happen. However, you do have control over what you want to do with your assets when you are no longer there to make the decisions. There have been various stories in PA about guys who lost everything because they did not create an estate plan in time, and you do not want to be one of them.
Most people who do not have an estate plan think it is unimportant and that their family members can handle things after they are gone. However, that is a myth. You are not just putting your assets at risk but putting pressure and stress on your family members. Seek legal consultation in Mechanicsburg and have an expert draft your document today.
Consequences of not having an estate plan
- Having no right to make medical decisions.
It is your body and health, and you should have the right to say something when there is a medical decision to make. Imagine you have become very old and are suffering from cognitive issues. There are various conditions that US senior citizens suffer from, including Alzheimer’s.
During this time, you may not be in your best mental state to make decisions for yourself. You will need someone you can trust to make those decisions for you. Without an estate plan that contains a healthcare power of attorney, these decisions will be taken by strangers in court.
- The court will divide your assets based on the law and not your wishes.
If you pass away before creating an estate plan, there is no document guiding the court for the division of assets. Therefore, the judge and the jury will then divide them according to the legal rulebook.
The law clearly states which family members should receive your assets and how much. Now, if there is someone in your family who is not immediately related to you but is someone you deeply love, they will not receive anything.
- You will have no control over the fate of your children.
If you cannot find the motivation to create an estate plan, the fate and future of your children should be a good enough reason to get you started. Life is unpredictable. If something happens to you and your spouse, decisions made regarding them will be up to the court. A significant part of the estate plan is about what happens to your children and who takes care of them if something were to happen.
The consequences of not drafting an estate plan are not worth it. Do not go a day without protecting your family, and hire an estate planning attorney today.
