Estate planning in Lafayette, IN, is one of the most important things you can do for you and your family. No one can predict exactly how their life is going to end or what their situation in life will be at the time. Taking the time now to be prepared for this unknown in your future will make it as easy as possible for your loved ones. The only way to truly know what is best for your situation is to consult with an attorney. Understanding the basic situations that require estate planning will help you get started.
Children
If you have children, estate planning is essential. Minor children who live with you will need someone appointed to take care of their health and well-being. They will also need to be taken care of financially until they become legal adults. Without a legal plan, the fate of your children could be up to the courts, which is not the fate you want for your children. If you have a disabled child, estate planning in Lafayette, IN, is even more essential. Without a plan in place, your disabled child’s government benefits could be at risk and your estate will need to be able to cover his care.
Problem Family Members
Estate planning puts a proper plan in place so irresponsible family members do not risk their inheritance. The right plan put together by a reputable attorney will protect your family members from being taken advantage of by other family members, lawsuits and various other scenarios that put your loved ones in a bad position after your death.
Complicated Relationships
If your relationship never made it to the altar, it is not legally recognized. This leaves your loved one without any rights in the event you become incapacitated or have an untimely death. This could leave your partner without any financial benefits in the case of your death. It could also cause major complications for your loved one with your family, especially if they are overbearing and push your loved one out of the equation.
There are hundreds of situations that require proper estate planning in Lafayette, IN. It is the only way to guarantee those whom you desire to be taken care of in the event of your death are taken care of. Without a proper estate plan, the fate of your estate and financial stability of your loved ones could be left up to the courts, which could lead to a time consuming and exhausting fight for everyone involved.
