Wills And Estate Planning
Thinking of Wills and Estate Planning?
If you have chosen to read this article, then you are definitely the one who has been working very hard throughout your life so that you can make life easier of your loved ones. But doing that amount of hard work without making it reachable to your loved ones is mere wastage of your energy and life-long efforts. You can leave it for your loved ones by will and estate planning.
Most of people think that it is too long a life and thus it is too early to write a will or there is a need to plan estate. But the fact prevails is that most of the people don’t have will, and their loved ones suffer a lot after the death of the person. They have to deal with various legal process to claim it there and therefore feels frustrated with the time consuming and expensive process.
Since, the whole of hard work is for those loved ones, why to let a situation come where they have to beg for their own assets through law and get frustrated about it. In some cases, when people do not leave a will, court can also disburse all the assets which can ultimately break your promises to your loved ones and their expectations from you.
Other benefit that involves by a will and estate planning is that you can avoid a lot of visits to the income tax department as you can have advantage of tax-saving strategies with the help of estate planning. Another advantage is that you would be able to pay your credit card bills and still you would be able to leave something for your family.
Achieving cash or assets without sentimental values or after losing that feeling in legal battles, those loving assets become nothing more than just few bucks. Relatives and the loved ones of the deceased person have to battle it out to get the ownership on that cash or assets, if the will is not designed properly by the owner. The fact that wills and estate planning can leave a secure future for your loved ones and care for them in the future as well cannot be denied.
The biggest example of such a case happened with Martin Luther King Jr. who died without signing a will. His family contested for some documents which he left with his secretary but his family claims that it is part of the estate that belong to them. Another such various examples are existing which can be taken as a lesson.
Lessons are that you have to save your family from that thwart and disappointment and make them know that you are there for them. You can save them from that daunting situation of begging and asking for their own assets from law and that the law will not be playing a piggy bank for their own belongings. You can also make sure that the future of your child is secure with your smaller but crucial step. Take advantage of your well-being just now to avoid any chaos in the near and uncertain future. wills and estate planning