What Happens If You're Sick Or Pass? Get A Plan Fast

Posted on: 2 March 2015

If you are wondering what would happen to all of your assets and belongings if something happened to you, it's time to meet with an estate lawyer. It doesn't matter if you are 25 years old, or you if you are nearing retirement, you need to have a plan.

Married or single, broke or rich, you want to have a plan because you don't know what the future may bring. Here are a few reasons you want to consider an estate lawyer to make a will:

You Pick Who Has Control

If you don't have a spouse when you pass and you don't have it legally notarized who you want to handle your affairs, the state is going to appoint someone to do it. Not only does this mean you could have a complete stranger managing your matters, but it could also mean that a family member you don't care for could be doing it. When you assign someone to be the executor of your will, or the administrator of your estate, you'll feel confident knowing who is going to handle your matters.

Know What's Going to Happen to You

Heaven forbid you and your spouse get in an accident at the same time, who would make the medical decisions for you both? Or say you aren't married and something happens, you need to have a medical power of attorney to be your voice when you can't speak.

If you don't want to have a ventilator put in, or you don't want to be kept alive in a vegetative state, the power of attorney will make sure these things happen. Without someone assigned to the position, it could take days for your children to get what they want completed.

Probate Can Drain Your Estate

If you have to wait for someone to get appointed as the administrator of the estate, or for a house to sell, the expenses could start to drain your accounts. This could be your banking accounts, retirement accounts and more.

You can also plan for your final arrangements if you want with the lawyer, so there is no fighting or confusion over the matter when the day comes. The estate lawyer will make sure that your accounts are all closed when you die, that the right children or friends get the correct things that you want to leave behind for them, and you can live each day knowing there is a plan.

To learn more, contact a company like Price & Associates with any questions or concerns you have.