Benefits Of Estate Planning with An Attorney

There's no better time than now to get your estate planning in order. Many people put off creating an estate plan because they'd rather not think about dying and leaving their loved ones behind. Others don't make any estate plans at all because they feel they don't have enough assets or are too young to start planning.

In a previous article, we discussed the importance of estate planning for you and your family. We explained what estate planning entails, what wills and trusts are, and what can happen if you don't have an estate plan in place. In this article, we will outline the ways you and your loved ones will benefit from having an estate plan.

At Gravis Law, we offer estate planning services in Boise. We can assist you in preparing your will or trust and answer any questions you have about end-of-life arrangements. If you live outside of Idaho, contact a local estate planning attorney in your area and schedule an appointment to begin estate planning—it is truly one of the best things you can do to alleviate some of the stress and grief your loved ones will experience after you pass away.

You can take care of your loved ones, even after you have passed away.

When establishing your estate plan, you ensure your family will be cared for after your passing. Whether creating a will or trust, your plan explicates your precise end-of-life wishes, including how you desire your estate to be dispersed. As we cannot predict when we will die, beginning estate planning promptly provides peace of mind that your family is provided for post-mortem. Your estate's size is irrelevant, encompassing more than just finances. In fact, everything you own constitutes your estate. Though you may feel your estate is modest, you still have many assets for your will/trust to designate beneficiaries. Estate planning enables you to control asset distribution, rather than leaving it to the courts.

You will avoid probate and excess legal fees for your loved ones.

Without an estate plan, the court will determine how your estate is distributed instead of your family. The probate laws of your state dictate who receives what. Typically, if you die leaving behind a spouse and children, each will inherit a fraction of your estate as set by the law. This fraction is often much smaller than what you would have wanted if you had created a will or trust. If one of your children is a minor, the court will hold their inheritance until they come of age. If you become incapacitated without an estate plan, the court assigns an appointee who becomes the only person authorized to sign for you in business dealings. The court then controls your assets.

Your most precious and special assets will stay in the family.

People often only think about money when making a will, but your estate is more than just cash and accounts. Your estate also includes sentimental heirlooms, like a locket passed down through generations or a baseball signed by Babe Ruth. These special possessions should stay in the family, so estate planning ensures the right relatives inherit cherished items. Consider which family members have shown interest in certain belongings over the years. For example, your nephew who loves birdwatching should receive your journals of birding adventures so he can continue your legacy. Court officials won't know your loved ones' interests like you do, so make your wishes clear in your will to ensure meaningful possessions go to the right people. Don't leave it to chance - take control through estate planning to thoughtfully distribute your special heirlooms and preserve family history.

You can take care of all members in a blended family.

Research shows that nearly 90 percent of estate planning involves stepfamilies. At Gravis Law, we provide estate planning services in Boise that are specifically customized for blended families. If you have had multiple marriages and children from each marriage, planning your estate is crucial to ensure everyone in your family is provided for as you desire. Without an estate plan in place when you pass away, it is certain that someone will be excluded. For instance, stepchildren have no legal right to any part of your estate. Meeting with our team to estate plan as a blended family means including everyone, no matter their relation.

You will give yourself peace of mind knowing your loved ones will be taken care of.

No one enjoys contemplating their own death and leaving behind their loved ones. Rather than feeling downhearted about being separated from your family and them being without you, you can find solace in knowing they will be provided for when you have set up an estate plan. Picture the joyful expressions on your family members' faces when you bequeath to them a treasured heirloom that had been tucked away and forgotten for many years. You will live on through the estate you pass down to your family. You will be at peace knowing you can still take care of your family after you're gone, and your family will be comforted to have your most cherished possessions left in their care.

Estate Planning In Boise With Gravis Law

If you are prepared to initiate estate planning, get in touch with the lawyers at Gravis Law. Our qualified team specializes in estate planning, concentrating on trust and will preparations. We understand discussing end-of-life arrangements can be very challenging, which is why we guide you through the planning process with maximum empathy and professionalism. Estate planning is actually a very constructive and preventative step you can take to safeguard your family and assets after you pass away. To find out more about our legal services or to schedule an estate planning meeting, please contact us now. We eagerly anticipate partnering with you soon and appreciate your interest in Gravis Law!