Estate Planning
Many people put off estate planning, thinking there is always more time to address it. The reality is that without an estate plan, we lose control over how our assets are handled, who makes decisions for us, and what happens to our families after we are gone. Estate planning is not just about wealth; it is about preparation and clarity.
State Law Determines Distribution
If we pass away without an estate plan, state law decides how our property will be divided. This process is known as intestate succession. While these laws provide a default system, they may not reflect what we would have wanted. Assets may go to relatives in a set order, which could leave out important people in our lives. Without a will or trust, we have no control over who inherits what.
Increased Stress For Family Members
When no estate plan exists, families often face confusion during a difficult time. Without clear instructions, loved ones may not know how to handle property, accounts, or even personal belongings. This can lead to delays, disagreements, and unnecessary conflict. Having a plan in place provides guidance and reduces the burden on those we care about most.
Guardianship Decisions Are Left To The Court
For parents, estate planning also includes naming guardians for minor children. If we do not put these decisions in writing, the court will choose who raises our children. While judges do their best to act in the child’s interests, the result may not align with our preferences. Naming guardians in an estate plan makes our wishes clear and gives children more stability.
Risk Of Higher Costs And Delays
The probate process without a plan can be longer and more costly. Court involvement is often required to settle the estate, and this can reduce the value of what is passed on to family. Estate planning tools such as trusts can help bypass or simplify probate, but without them, our loved ones may face extended delays before receiving assets.
Health Care And Financial Decisions Are Uncertain
Estate planning is not only about what happens after death. If we become incapacitated without a plan, there may be no clear decision-maker for medical or financial matters. A durable power of attorney and health care directive can name trusted individuals to act for us. Without these documents, the court may need to step in, which can delay important decisions.
Taking Control Through Planning
Estate planning allows us to take control of these issues instead of leaving them to chance. Even a simple plan can make a big difference by providing direction, protecting family, and reducing stress. For business owners, parents, and individuals with unique family circumstances, the impact of not having a plan can be especially significant. Working with a Kirkland, WA estate planning lawyer helps us design a plan that reflects our wishes and protects our loved ones.
At Eastside Estate Planning, we believe every family deserves a clear and thoughtful estate plan. If you have not created one yet, now is the time to take action. Contact us today to discuss your goals and let us help you build a plan that provides peace of mind for you and security for your family.
