Estate planning is the single best way to make arrangements for your loved ones and guarantee that your wishes are respected after you’re gone. As difficult as it may be to think about, planning for your death can provide peace of mind for both you and your loved ones, prevent conflicts among your family members, and ensure that your obligations are met. Below are a few situations that indicate you need to initiate or update your estate plan.

3 Events to Begin or Update Your Estate Plan

1. Birth of a Child

The birth of a child is one of the most important events of many people’s lives. It’s crucial to make sure they’re taken care of in case something happens to you. Purchasing a life insurance policy and naming a legal guardian are a few of the steps to take after your family grows. You may also want to write a will, describing your wishes about the division of assets.

2. Marriage

When you’re married, your spouse will automatically inherit all of your property if you pass away prematurely. While this is acceptable in most situations, there may be specific assets you want to pass on to someone else. Writing a will is the only legally enforceable way to ensure that these wishes are honored and prevent conflicts between other family members.

3. Divorce

Ending a marriage has a significant impact on your estate planning goals. You will need to write a will to divide your assets and prepare an advanced healthcare directive expressing your wishes about medical treatment. You will also need a durable power of attorney to let someone you trust make decisions on your behalf.

The legal team at Cecil & Cecil PA understands how important these crucial life decisions can be, which is why they strive to provide individualized attention and detailed legal advice to clients throughout the High Point, NC, area. Visit their website now to learn more about their estate planning services and call (336) 883-8383 to schedule your initial consultation. For more tips and legal advice, follow their Facebook page.