Call Today! 314-527-3224
Menu / Navigate
Secondary Nav

Estate planning is for everyone

While many in Missouri and across the nation may think of a will as something for the elderly to worry about, the truth is that estate planning is a good idea for everyone, regardless of age or marital status. The New York Times reports that more than 50 percent of American adults do not have a will, which means that if one is to die, his or her estate would go into probate, which can leave room for funds to be ill-used, leaving less to relatives who could otherwise benefit. 

Yet, as Forbes explains, creating estate plans is about more than making sure assets aren’t victim of misuse, and a will sets the framework of a person’s final wishes. For many, this includes health care decisions, this can mean appointing a power of attorney in the case of incapacitation, or it can be more generally about resuscitation instructions. End of life costs, including the cost of burial or cremation, are something to consider as well. Although life insurance can cover these fees, those who do not have dependants relying upon them often forgo purchasing a policy.

Estate planning also provides an opportunity to decide who should inherit assets. This accounts for large purchases or investments, such as a home or 401(k), but it also allows for the chance to bequeath sentimental objects to the person who would most appreciate them. This may be especially important if there are any family issues, such as divorced parents, that could complicate matters after an unexpected death. While thinking about these issues may not be fun, it does indicate to loved ones that a person cares enough about them to provide a contingency plan.

No Comments

Leave a comment
Comment Information

Contact the Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

TdD Attorneys at Law LLC
727 N. 1st Street
Suite 310
St. Louis, MO 63102

Phone: 314-276-1318
Map & Directions