Estate planning is a very important tool to ensure that your assets are managed the way you want both while you’re alive and after you pass away. This could mean making sure that your assets are received by the beneficiaries of your choosing, or even leaving behind specific instructions in case unforeseen circumstances were to arise. Regardless of the reason, having an estate plan is essential to making sure both you and your loved ones are properly taken care of.
Some may wonder when would be the best time to consider estate planning. Many put it off for years, thinking that there is no need for it since it does not seem like a pressing matter. However, this could not be farther from the truth. There is no time like the present, and as cliche as that may sound, it is crucial when it comes to estate planning. Starting the process as soon as possible is key to ensuring that your wishes are carried out. If you are considering starting an estate plan, do not hesitate to contact the Pittsburgh estate planning attorneys at Heritage Elder Law & Estate Planning, LLC to learn more about how we can help you craft your estate plan.
When should I reach out to a Pittsburgh lawyer to create an estate plan?
If the last few years have taught us anything, it is that the future is anything but certain. Life as we know it can change in the blink of an eye, which is why it is paramount to use the time you have now to prepare for the future. As uncomfortable as it might be, being able to sit down and communicate with your loved ones about what you would want, especially if the worst were to happen, is a luxury many of us take for granted. Being able to ask a loved one if they would want to be the personal representative (executor) of your estate, or expanding an existing will or trust to include more beneficiaries, can go a long way to alleviating any uncertainty, or potential legal hurdles, that may surface.
Although, making sure that your assets are managed correctly is not the only benefit of estate planning. For example, having certain directions in place, regarding your medical decisions, could be essential in case you were to become incapacitated. The last thing you would want is to leave your family in the stressful situation of figuring out how you would want to be treated in that state. It should also be noted that setting up guardianships for your children can ensure that they are properly taken care of. If both you and your spouse were to become medically unresponsive, the top priority will always be to make sure that your children are raised by someone of your choosing.