It's no secret that the estate planning process can be scary. It requires you to contemplate your own passing, and it forces you to take a hard look at your assets and your estate's financial health. This is enough stress to cause most people to procrastinate when it comes to estate planning. However, as we discussed in last week's post, dying without a will and other estate planning documents can have tremendous consequences, including undesired distribution of assets and excessive costs.
These negative ramifications can be avoided, and you can leave your estate to your loved ones in a way that you want to. When crafting a will, you can clearly specify which individuals are to receive certain property, and you can even disinherit individuals who would otherwise have a legal right to obtain a share of your estate. Trusts can allow you to protect estate assets while providing for loved ones in a way that is as restrictive as you would like. Other estate planning matters, such as powers of attorney and healthcare directives can ensure that your finances and healthcare will be taken care of if you ever find yourself incapacitated.
As overwhelming as estate planning may seem, a skilled legal professional can walk you through the process so that you are fully informed and can make decisions that you think are best for you, your estate, and your family. The legal team at the Moore Law Firm understands the delicate nature of estate planning, which is why we focus on what our clients want for the future of their assets and their loved ones.
Careful drafting of estate planning documents is crucial to their success. Estate plans that are not holistic in nature can have legal gaps that leave critical matters open to legal argument. This can lead to challenged wills, the outcome of which may be counter to the creator's intent. For this reason, we give great attention to detail with every document we create, knowing that an estate and family's future is on the line.