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3 reasons you should begin estate planning now

You may associate estate planning as something meant for those who are wealthy, old or terminally ill. While very relevant in these situations, it is better to make these end-of-life decisions now, no matter your circumstances.

You never know when it will be your time to go. Prepare now to protect your children, ensure your wishes for medical care and prevent disputes among your family members.

1. Protect your minor children

Have you considered what will happen to your children if they lose both their parents? What if you are their only parent, or they are part of a blended family? Do not assume that legal guardianship will automatically transfer to the person/people who you want it to. Make it clear who will be the guardian of your children, checking that the person is willing and able to do so.

2. Ensure your wishes for medical care

You need more than just a will as you make estate plans. Wills (and trusts) are most pertinent for the distribution of your assets. However, you also need to include your wishes for end-of-life care and establish a power of attorney and/or living will (also known as a health-care directive). Some of the things to consider are resuscitation, tube feeding and assisted breathing.

3. Prevent family disputes

No matter how small your estate is, you will have some types of assets to leave your family. When you express who gets what, who will be the executor of the estate, who will make medical decisions for you and who will care for your children, you reduce the likelihood of family battles over these matters. Being clear and thorough can also prevent anyone from disputing your will. This will save your family from unnecessary drama and legal fees.

These are only three of many reasons to begin your estate plans today. Making these preparations may be emotionally difficult, but they will show your family that you love them and value their security.

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Jamie Graham & Associates, PLLC
310 South St. Mary's Street
Suite 2500
San Antonio, TX 78205

Phone: 210-272-7034
Fax: 210-308-5669
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