According to AARP, 60% of Americans over the age of 18 do not have a will or estate plan in place. This number is comprised of primarily of millennials and GenXers. Creating an estate plan uses wills and trusts to protect your wealth. However, just because you haven’t hit retirement age doesn’t mean you shouldn’t be prepared should the unthinkable happen to your family. Estate planning provides you with the comfort of knowing that your spouse and children are taken care of.
A will allows you to dictate who gets your property when you pass, who you would want to raise your children , as well as who should administer your estate. A living will allows you to dictate your end of life wishes and alert medical professionals to what they are.
Trusts are not just for the uber-wealthy! Trusts are a beneficial and important part of any estate plan. Trust simply fthe transfer of property by passing outside of probate. This saves money and time. They can also be beneficial to grandparents to leave money to their grandchildren. Persons entering into a subsequent marriage can set aside money for children from a prior marriage to make sure they are always taken care of.
Before it’s too late
The COVID-19 pandemic has many people thinking about their own mortality. Do not put it off any longer! The process for most is very straight forward and it can be in your hands in less than a week.
If you find yourself looking for a will or any other estate succession plan or documents, please contact the Bragg Law Firm today for your free initial consultation.
Our attorney can draft any estate planning document you need, including but not limited to:
- Living Wills
- Will contests
- Revocable Trusts
- Irrevocable Trusts
- General Powers of Attorney
- Medical Powers of Attorney
- Living Wills
- Guardianships and Conservatorships