In order to have a fulfilling life, planning is essential. People who fail to plan for retirement while they are young tend to struggle to make ends meet when they are too old to work. Social security isn’t going to provide enough monthly income for the average person to maintain their standard of living once they no longer earn a consistent salary. The same is true for estate planning. While the effects of ignoring estate planning might not affect the person who doesn’t do it, it is likely to cause hardship for their surviving family members.
An estate planning lawyer in Port Orchard, WA could help a person evaluate their long-term needs and create an estate plan that’s tailored to their unique situation. Whether they have young children, adult children from different marriages or a favorite charity, putting plans in writing is the most effective way to ensure the money a person works for their entire lives goes where they want it to when they die.
There are a number of options available for someone who wants to plan how their assets will be distributed after their death. Many people merely write a simple will that outlines their wishes. Others have more complex needs and are better served by a revocable trust. No matter which of these options a person chooses, they can change it at any time as their needs change. Having a plan in place early, therefore, is much better than waiting until it’s too late and relying on probate court to distribute cash and other assets.
To get in touch with an estate planning lawyer in Port Orchard, WA who has a wealth of experience in estate planning, visit us. People who are serious about taking care of their loved ones after they are gone must make arrangements to do so while they are alive. When someone dies without an estate plan, the surviving family members are more likely to disagree about how the assets should be handled and the time spent in court could significantly reduce the value of the estate. Those who are concerned about their privacy may also be able to keep their estate out of the public record by working with an attorney on a comprehensive estate plan.