As Valentine’s Day approaches, are you thinking about how you will communicate these important words, “I Love You”, to your spouse and children? We know the best way to communicate how we feel is to just say it and act with love on a daily basis. However, when thinking about the future, it can be a little more complicated.
Have you thought about how powerful a statement of love to your family that creating an estate plan would be? Meeting and working with your Alabama estate planning attorney to thoughtfully and thoroughly create an estate plan means your family will not have to guess at your wishes. In addition, they will not have to go through lengthy court procedures, creditor challenges or be without an advocate when you are no longer here. We are very aware that it can be stressful to think about life after your death. That being said, though, estate planning is critical to ensure that the sorrow your loved ones feel is not compounded by any crisis that could have been avoided.
This Valentine’s Day, instead of giving chocolates and jewelry, consider these five ways to say “I Love You” with estate planning:
1. Put the future of your loved ones on a firm foundation. Right now, take steps to limit the reach of any creditors to your estate, maximize your assets and put guidelines in place to make sure your spouse is provided for in your absence and your children have the opportunity to go to college.
2. Keep conflict at a minimum. By selecting decision makers now you will limit the chance of arguments about any decisions that need to be made. Instead your loved ones will be able to focus on their grief instead of wasting time fighting over what your wishes might have been.
3. Delete uncertainty. It is hard for family members to make well-reasoned decisions during difficult emotional times. Therefore, by making the tough decisions now, you can take the burden of responsibility off your family.
4. Get rid of the stress. Estate planning will not only benefit your family, but you as well. You will be able to make all of your end of life decisions now, while you have the capacity. The stress of those end of life decisions will be gone because of all your planning.
5. Your family will now have the peace to focus on what really matters. Knowing that you have taken care of everything from health care decision making and finances to taxes and wealth transfer strategies, will mean everything to your family when the planning you have put in place needs to be implemented. Remember, by giving them peace of mind when it matters most you have found one of the best ways to say “I Love You” to your family.
At the end of the day, estate planning is not just for you. Instead, it is for the ones you love most. If we can answer any questions for you on putting this estate planning in place, please do not hesitate to let us know. For more information, please reach out to our office and schedule a time to meet.