When you're in your late teens, early 20s or 30s, you tend to think that you have a lot of time to continue living. Your next day isn't guaranteed though. Unexpected illnesses, accidents and other catastrophic events happen. This is one of the reasons that many legal analysts warn individuals to not put off writing their will.
Many people put off drafting a will because they think that they're not old or wealthy enough to have one. Even when individuals do sit down and draft one, they soon thereafter put it in a safe place and forget about it. Few people take the time to revisit them. Certain instances call for you to update your will though.
Life expectancy should, in theory, keep increasing. We live in a world where modern medicine is better than it has ever been before. We know more now about health and nutrition than at any time in the past. We have medicines and vaccines that have eradicated some of history's most dangerous diseases.
On one of the first days at a new job in Broomfield, a representative from your company's human resources office may visit you. They may hand you an employee handbook and go over the different types of insurance options that they have to offer you. They'll likely have you fill out a beneficiary designation form for every plan that you choose to take out.
You worked hard all your life and amassed a significant fortune to pass on to your heirs. It would be tragic if one of your heirs, funded by an inheritance, led a dissolute life and headed to an early grave.
One of the best ways to plan for the care of your pet after you've died is by setting up a pet trust. Your pet trust will set aside funds to care for your animal and identify an individual who will serve as your animal's caretaker. Creating a pet trust is not entirely straightforward, however, so it's best when estate planners seek professional assistance when setting up this important legal document.
Of all the pre-planning that expectant moms do for their impending arrivals, one thing that's seldom on their to-do list is to see an estate planning attorney before they give birth. Legal analysts suggest that they maybe should schedule a visit with one, though.
A key part of estate planning is deciding who will be your child's guardian if you pass away while that child is still a minor. Your peace of mind hinges on the knowledge that they'll be taken care of.
As part of your estate planning, you may want to set up an advance directive. It works along with the rest of your plan to make sure that you get the medical care you need as the end of your life approaches.
It seems fairly clear to you that you're going to need a will eventually. It's inevitable. The same is true for everyone you know.