No one is immortal. That’s a sad thing to think about even for a second, but it doesn’t make it any less true.
You may be in denial about your own mortality, but you shouldn’t make excuses when it comes to estate planning. After all, ignoring the importance of estate planning or writing a will improperly may bring further suffering to your family.
Poor or no estate planning whatsoever may have a negative effect on your children. Having no money or thinking, “oh well, I will do it later” shouldn’t get in the way of you providing your family and children with a bright future.
With no estate planning, not only do you risk leaving your family and children in disarray, but also give them the headache of having to take care of all the legal issues surrounding property and money inheritance.
In case you go out of existence without having a will and estate plan, all decisions regarding who will be the guardian of your underage children and who will inherit your property and money will be made by a local probate court in Wesley Chapel or in any other Florida city where you live.
And that legal process may not go as smooth as you or your kids would want to. That’s why our experienced real estate attorneys here at DHW, P.A. have provided you with a handy guide to handling estate planning like a pro.
How to write a will properly
If you’re a parent of young children, it’s vital to write a will and name the guardian to take over in case both you and the other parent (your spouse) passed away or were otherwise not able to raise your kids.
If you were to pass away without naming guardians for your children in a will, the local court in Wesley Chapel would have to appoint a person, usually any family member, to take care of your kids on its own.
And this might not end well if you, for some reason, don’t want certain family members to raise your children.
When it comes to leaving your assets in a will, here’s when it gets tricky. If you don’t write a will, some of your property may go not to your spouse, but directly to your kids.
Estate planning and writing a will can be quite confusing if you aren’t sure what your best options are. Consult our Wesley Chapel real estate attorney to help you write the will you would never regret writing.
Life insurance as part of estate planning
Another essential step in estate planning is buying life insurance. Estate planning may affect your children negatively if you don’t buy a life insurance policy that would replace your income for a set number of years to provide for your kids in case you and the other parent passed away unexpectedly.
Shopping for the best life insurance policy in Wesley Chapel may be a daunting task, which is why it’s recommended to seek the legal advice of an experienced real estate attorney in Wesley Chapel.