Kansas City estate planning attorneys can provide you with help and advice when you make plans that impact your future. Unfortunately, far too many people wait too long to talk with an estate planning lawyer because they don’t realize that estate planning is not just something that senior citizens should do.
Parman & Easterday can work closely with you at whatever phase of life you are in to ensure that you’ve taken the necessary steps to plan and prepare for your future. You should give us a call today to find out about how Kansas City estate planning attorneys can provide personalized advice. You can also read on to find five key things that estate planning attorneys wish that more people knew.
Estate Planning Isn’t Just About Determining Who Inherits Assets
Many people think that if they don’t have a lot of money, it’s not important to make an estate plan. It’s also a common misconception that you don’t need a plan if you’re ok with intestacy law determining who inherits your wealth. The reality is, your estate plan also includes other steps you may wish to take, such as determining who will make your decisions if you become incapacitated and providing instructions regarding medical care that you wish to receive or deny. You should make sure you talk with an estate planning lawyer about all of the different estate planning tools that could help you to take control over your future.
Estate Planning is Important for Young People Too
Another common mistake people make is waiting too long to create an estate plan. This happens because far too many people believe that estate planning is something only seniors have to worry about. Unfortunately, the reality is that there are no guarantees that you’ll stay healthy and live until old age. You could pass away or become incapacitated. If you haven’t yet made an estate plan, it will be too late for you to do so. Don’t wait to act — make your plans while you can.
Your Estate Planning Should Include Your Animals Too
When you create an estate plan, you shouldn’t forget to make provisions for pets that are in your care. Too many pets end up in shelters or worse because their loving owners pass away and no one assumes responsibility for the animal. You can make a plan in advance for someone to care for your pet and can even provide funds for your pet’s care if you wish to do so.
Estate Planning Isn’t Just About Making a Will
Another common misconception is that you can just make a DIY last will and testament and be done with the estate planning process. The reality is, you may also wish to incorporate other tools such as trusts, living wills, pay on death accounts, and more into your estate plan. You should work with an attorney to find out about all of the legal tools that you might wish to use in the estate planning process.
You Need to Take the Special Needs of Your Heirs Or Beneficiaries Into Account
You should consider your heirs or beneficiaries when making a plan so you can use the tools that will best provide for them. For example, if your loved ones are irresponsible with money, you should consider the creation of a spendthrift trust so you can provide an inheritance that will enhance your loved one’s quality of life but name a trusted and responsible person to manage it so you ensure it is not squandered.
Getting Help from Kansas City Estate Planning Attorneys
Kansas City estate planning attorneys at Parman & Easterday will provide personalized advice about your estate planning process so you can put the right plans in place to protect your autonomy and ensure everyone you love — including your pets — is cared for even if something happens to you.
You should join us for a free seminar to find out about the ways in which our compassionate and knowledgeable legal team can help you with the estate planning process. You can also give us a call today at (405) 843-6100 or (913) 385-9400 or contact us online to get your personalized plan underway.