No one ever truly knows when it’s our time to move on. We may think we’re destined to live to our 90’s, but life doesn’t always turn out as we expected. Having an estate plan in place can eliminate any unexpected circumstances life throws at you.
Not sure where to start? Ask yourself these 5 questions:
1. Why haven’t I created a will?
Everyone needs a will. Even if you’re not rich or old, that doesn’t mean you don’t need a will. A will is for anyone who wants to leave behind assets to loved ones.
2. Do I have enough life insurance?
Life insurance is a necessary financial protection for your loved ones. If you should pass away unexpectedly, would your spouse be able to afford the monthly mortgage payments? Life insurance can help ensure that your loved ones don’t have to worry about paying their bills after you die.
3. What do I want to do with my home?
One of the biggest assets you might have is your home. A home, though, can be a problem after you die.
4. Will anyone know how to find my key documents?
If you have a designated place for your most important financial documents you need to make sure your loved ones know where to find them.
5. Who will care for your pets?
What will happen to your beloved pooch, car, or parakeet if you should pass away? If you’re worried about your pets’ future you can leave instructions. This information can be included in a will. You may also want to set up a savings account to ease the burden of caring for a pet on your family members.
To learn more about the 5 estate planning questions everyone should ask, read the full article here. Although death is a taboo subject, it’s still important to have an estate plan in place. Having an estate plan can ease the burden of your loved ones if you should pass away unexpectedly. Contact Norberto Katz at Veliz Katz Law to start your estate plan today.