Sure, maybe you don’t have “much” to leave behind or you don’t have dependents, but you do have inherent worth that can and should be protected with a will. Here are three reasons why you owe it to yourself, and others, to have one.
- For your family. If a person passes away without a will, that person’s loved ones must deal with many uncertainties at the worst possible time: when they are grieving. Instead of leaving loved ones with that responsibility, a good estate plan can tell your loved ones your wishes and plans made in advance and take a great burden off of their shoulders. Whether your siblings, parents or partner, don’t you want to ease their burden?
- For your peace of mind. The future. Death. The great beyond. Thinking about these subjects creates a lot of anxiety for many people. So much so that lots of people avoid putting together a will or estate plan to escape from thinking about these difficult issues. However, putting together a plan for the end of life can actually calm fears and anxieties by settling some of the uncertainty about future events. Don’t be afraid to talk to a qualified estate planning attorney about your options. Now is the time!
- For your money. Under the current law, there is no federal estate tax on estates unless they are worth more than $5 million. Washington state exempts estates under $2 million from estate taxes upon a person’s death. Therefore, if your estate may be over this exemption amount at the time of your death, you will want to create an appropriate plan to shelter your wealth from tax liability. Even if you are not over the $2 million threshold, it is wise to keep in mind that our politicians may change the estate tax thresholds in the future so that smaller estates (including, perhaps, yours!) are in danger of being taxed as well. All the more reason to consult with an experienced estate planning attorney to ensure that your hard-earned money stays where it belongs – with you, your loved ones or the organizations that support the kind of world you want to live in.
Here at Limitless Law, we believe making a will should be affordable, easy and, yes, even fun. Contact us today to discuss the right estate planning options for you and your family.