It's not uncommon for people to think that estate planning isn't of the essence. They think it can wait until they're older or until they own more property. However, the fact of the matter is that it's never too early to get your own affairs in order. After all, you can't take your belongings and other interests with you when you die. You want to make sure that what you leave behind is divided properly — and by properly, we mean according to your final wishes.
One of the most efficient ways to do this is to create a will. This will make sure that your friends, family members, and other beneficiaries get what you want to give them based on the instructions you create. If there isn't a will, then the state will determine who gets what in probate court.
I own a car, but not a house or land. Do I need estate planning service?
Yes, you do. Estate planning doesn't just involve land or homes. It involves anything you own. This includes, but isn't limited to:
- checking/savings accounts
- life insurance
- personal possessions