Estate Planning: Everyone Needs It

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Abel M. Tsegga, Esq.

Partner

Everyone eventually needs an estate plan. Estate planning is a good way to ensure that your wishes are carried out in the event that you pass or become mentally incompetent. Now, some of my readers may be saying to themselves: “I’m still young and in good health… I don’t need an estate plan.” This is an unsafe assumption, especially if you are married or have minor children. Yes, you may be young and in good physical condition without any serious medical concerns. But an estate plan protects you when the unthinkable happens. No one plans to suddenly die or become incapacitated. But unfortunately, life happens. Thus it is extremely important to not only provide yourself with peace of mind, but also to protect your loved ones. 
 
If you’re still not convinced that you need an estate plan, please consider the following questions:
 
Who will care for your minor children if both your spouse/partner and you should pass? If you’ve already made arrangements for your children, are those arrangements in writing?
How will the needs of your surviving spouse/partner be met?
Do you want to provide for loved ones other than your spouse and children after you pass?
Should you divide your property equally amongst your heirs?
How will your health needs be met if you become terminally ill or incapacitated?
Who will manage your estate if you pass?
 
Regardless of your age or financial status, if you have children, a spouse/partner, other loved ones, or wish to ensure that your assets pass on to certain individuals, you need an estate plan.
 
For more information, please contact us at (206) 697-4878.