No one likes to think about the end of their life or that of someone they love. Adequate planning, despite the emotional challenges, is worth the effort. It provides people with a guideline to follow, avoids legal battles, and reassures people their family will honor their final wishes. The lack of planning can force loved ones to spend unnecessary time and money sorting out the details in an Arizona probate court. Differences exist, but there are many reasons to consider performing this task.
Protect the vulnerable
Estate planning ensures the safety of minors who lose both parents at once, the children of single parents, and adult children with challenges that require constant care. Other loved ones who need special attention may include elderly parents previously cared for by the now-deceased individual. Another consideration is the oversight of beloved pets left behind. Estate planning enables people to establish trusts for the financial security of their loved ones and to select a trusted guardian for their care.
Keep valuables safe
It is not always the monetary value of an item that gives it meaning. Valuables could include priceless antiques, an extensive gun collection, or a single handmade quilt with only sentimental value. Estate planning determines if items stay together or become divided. It can also determine if it goes to a friend or family member or is a donation to a museum or elsewhere. The benefit is that people know that something they have loved and protected through life will remain safe.
Avoid family disagreements
Conflicts between family members often occur after a death of a loved one. The stress of watching someone experience an illness and the grief of their loss can lead to disagreements and behavioral changes. Estate planning prevents many conflicts by reducing the decisions people must make for their lost loved one. Any end-of-life preparation is an opportunity for people to discuss their wishes and make choices that all participants support.
Creating wills, trusts, and other documents can take much less time than people expect. Occasional updates to the paperwork keep all decisions relevant. Knowing that all property and people will remain protected makes it worthwhile.