When it is suggested to you that you need to start planning your estate, you probably throw your head back and have a good laugh because after all, you’re only 45 years of age and you are in the prime of your life. Things are going well for you in the job sector and you are accumulating wealth at a steady rate. Life is good at the moment and you don’t see any reason why that should change within the next 20 years, so why plan for something that isn’t going to happen for some considerable time. The reality of life is that we don’t know what lies for us around the next corner and even tomorrow is not assured.
You can only put it off for so long, but there will come a time when you need to start contacting someone like CK Lawyers for an estate planning lawyer. You have worked really hard up until this point to make sure that you provide for your family and so it seems reasonable that you would want the same level of care to be provided for them if you leave this world unexpectedly. It would be grossly unfair to leave your estate in the hands of your family members because when you mix money and family together, it can actually break families up. This isn’t something that you would want and so here are some of the reasons why you need to start planning for your estate now.
– Tomorrow may never come – You keep saying to yourself that it’s something that you will address tomorrow or the next day, but in the end, nothing gets done and so when you leave this mortal coil, nothing has been put into place regard to your final state. You’re probably thinking to yourself that you can trust your partner to do the right thing and you divide your assets of equally among the other family members. Unfortunately, money changes people and they can turn to someone whom you never thought they could ever be.
– It pays to plan ahead – If you don’t put things into place before you die then you may be leaving your family open to things like inheritance tax and other government taxes that may reduce the overall size of your estate. By talking to your estate planning lawyer now, they will tell you about the legal ins and outs of estate planning and what you can do to ensure that your family gets the bulk amount of your estate.
It’s understandable that you don’t want to think about your demise and that you do not want to approach this subject at this time, but you need to be realistic here and understand that anything can happen and it often does.