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Estate planning: No need to be afraid of it

Especially if you are under age 40, you might not like the idea of discussing your own mortality. Even older people sometimes hesitate to think about such issues. The fact is, however, that every person will die someday, so it is always best to be as prepared as possible regarding estate planning.

One of the benefits of planning your estate is that you can customize your plan to fit your needs and goals. Whether you have a sizable estate of high net worth or a simple asset portfolio, it pays to execute a plan that helps you protect what you worked so hard to acquire. A solid estate plan can also benefit your loved ones, especially if you include a last will and testament that names heirs and beneficiaries.

Implementing an estate plan can have benefits while you’re still alive, as well. For instance, you might be wish to designate a power of attorney to someone you trust to make financial or medical decisions on your behalf if you were to become incapacitated and unable to do so for yourself. This may be the same person or two different people or groups.

What causes you to procrastinate most when it comes to the estate planning process? Is it your age or that you do not believe you have enough assets to make it worth your while? Perhaps, you are confused about Illinois estate laws and are not sure where to seek clarification. The attorneys at Lesser Lutrey Pasquesi & Howe, LLP are committed to providing guidance and support regarding all aspects of estate planning and administration. By requesting a meeting with our experienced legal team, you are one step closer to protecting your estate.