Can I Plan My Estate When There is Political Uncertainty?
When there is political uncertainty people are much more likely to avoid planning their estate. While it is wise to be cautious, bear in mind there will always be uncertainty in law and politics; therefore, planning your estate is something that you should do even if the country is in the midst of doubt. You may think that a few months or even a year down the road will be a better time to plan, but no one is promised tomorrow. We encourage you to continue reading to understand the importance of planning your estate today.
There is a misconception that estate planning is only for people who have million dollar assets. This is false. It is crucial that everyone plans their estate now because it can protect you and your family when it comes to critical decisions. In your estate, you can create a living will and appoint an agent under your power of attorney, the latter being someone who will make important decisions if you become unable to do so. Both of these documents are part of your estate plan. They are both equally important when it comes to protecting you. While the law surrounding them could change for political reasons, the damage that can occur without you having them can be substantial.
A living will is a legal document that explains how you want to have life sustaining procedures handled should be in a terminal condition or persistent vegetative state and be unable to communicate. It doesn’t matter if you have a small or large estate, or the person you voted for, a living will is important. When you create a living will you are making it much easier for your family in a time that will be rife with stress.
When you create your power of attorney, you are giving someone the authority to make decisions for you when you are incapable of doing so. This person makes primary decisions regarding your finances, but your agent can also be granted the responsibility of making decisions regarding your health. When you choose this person, it is imperative that you choose someone that has you and your family’s best interest in mind.
These are just a handful of reasons why you should plan your estate today. One thing that is uncertain is tomorrow, therefore having these documents in place is necessary for the protection of you and your loved ones. If you have further questions, don’t forget Attorney Donna Wilson is here to help you and your family! Don’t wait to call us at 866-603-5976 or contact us via our website to schedule a meeting with Donna directly.