If you do not have an estate plan, there is a very simple reason that you should get one.
It is not a big revelation that people prefer not to think about the end of their own lives and assume they will live for a long time. This makes many people put off getting an estate plan or even seriously considering getting one. It is, of course, unlikely you will have a fatal accident next week. However, if you acknowledge that it is within the realm of possibility, then there is a very simple reason you should not delay getting an estate plan as the Herald Times Reporter discusses in “Estate planning: Why?”
The reason for getting an estate plan boils down to the essential reason you do not want to leave your family with a mess. You do not want to make things difficult on the people you love, but that is what you do if you pass away without an estate plan.
With a proper, professionally drafted estate plan, your family should not have a difficult time administering your estate. They simply need to follow the legal documents or hire someone who can do that for them. However, without an estate plan, your family will have to sort everything out for themselves. They will not have a guide. Dealing with your estate will be more time-consuming and more costly.
Therefore, if you accept the proposition that it is possible you could pass away unexpectedly and soon, then it is time to get an estate plan. Getting an estate plan is not accepting that you will die soon. It is simply a hedge against the possibility and something you should do for the sake of your family.
Reference: Herald Times Reporter (July 8, 2016) “Estate planning: Why?”
