Estate planning is a financial and legal strategy focused on what happens to your assets after you die. You are setting up a plan for the orderly distribution of money and other assets and ensuring there is no question of who gets what. Even your personal belongings are part of the planning. Before you assume that consulting an estate planning lawyer in Westminster isn’t for you, consider these examples of people who do need legal advice.
Recent College Graduates
It’s true that you haven’t amassed much in the way of worldly possessions or financial assets just yet. Even so, think about what you do have and what could happen to it without some sort of plan in place. Who would end up with the balance in your checking account, the clothes in the closet, and the furniture you just bought for your first apartment?
Now is the time to talk with an estate planning lawyer in Westminster. Develop a plan for what you own now and, it will be easier to amend it as you accrue more assets. Should the unexpected happen, not having to decide what will happen with your belongings or assets will mean one less issue your grieving loved ones have to resolve ?
Couples With Children
If you didn’t come up with an estate plan when you married, now is the time to think about the kids. Should the funds from life insurance policies go into a trust that would see to their needs? Who will take care of them until they become adults? How can you make sure there is money for college or some other form of advanced education? Choosing to consult with a lawyer allows you to come up with a plan that ensures the kids are taken care of no matter what happens to you and your spouse.
Others like retirees, business owners, and those with no family need help from an estate planning lawyer in Westminster. If your affairs are not in order, call The Law Offices of Norman J. Homen today. You can also visit their website and arrange for a consultation. Once the planning is done, you’ll feel a lot better and more in control.