Many people mistakenly believe they can delay estate planning until their golden years. However, when it comes to preserving your final wishes and protecting loved ones, it is best not to procrastinate. Taking the steps now to prepare for the future ensures affairs are in order for whatever situation may arise. If you have been putting off compiling these documents, the following are reasons why getting started will provide peace of mind: 

Why Start Estate Planning Now?

1. Your Assets Could End Up in the Wrong Hands

Developing an estate plan allows you to remain in control of how your assets are distributed after death. If you neglect to specify beneficiaries and what each should receive, the default state statute will direct where your assets will go. Also, if you don’t want certain relatives to inherit assets, your estate plan will ensure that only your chosen beneficiaries will receive gifts. 

2. Your Minor Children Need a Guardian 

If you have minor children, it is especially crucial to do the estate planning sooner. When drafting a Last Will and Testament, you designate a guardian to raise your kids if you and their other parent pass on before they reach adulthood. Failing to state these wishes leaves the decision to the court, and it may choose a relative you disapprove of. 

3. You Never Know When Tragedy May Strike 

Estate planning is not just about preparing for after death; It is also vital to have proper documents in place if a loved one suddenly became incapacitated and unable to make medical or financial decisions on their own. The statutes allow you to appoint someone you trust as a power of attorney. In this role, your trusted person will be legally capable of making important choices on your behalf. 

Proper estate planning takes careful thought and consideration, so don’t put it off and rush into it when disaster strikes. The legal team at LaRowe Gerlach Taggart LLP will provide quality counsel and guidance to ensure you make educated decisions and create a comprehensive plan. For over 35 years, they’ve served the residents of Reedsburg, WI, helping to execute valid estate plans that reflect their clients’ wishes and best interests. Call (608) 524-8231 to schedule a consultation, or visit the website to learn more about their expertise.