Uncomfortable Estate Planning Questions You Need to Consider
Many people put off planning their estate as long as they can simply because they don’t want to have to think about their own mortality. This is understandable, as there are a lot of topics that come up during the estate planning process that are quite uncomfortable to address. However, it’s necessary to approach these issues at some point to protect yourself, your spouse and your children should a worst-case scenario arise.
The following are some uncomfortable topics you may need to consider when planning your estate:
- What happens to your children if both parents pass away? You need to consider who would be best suited to be the guardians of your kids if you and your spouse/the other parent of your children die. Many people choose trusted siblings or other family members to be the guardian. But if you do not choose a guardian yourself and an accident happens, then the court makes the decision for you based on what it believes is in the best interest of the children.
- What if your entire family dies in one accident? You should plan for what will happen to your assets if your entire family passes away at once. Do they all go to your parents? Siblings? Friends? Charity? Whatever you choose, it still gives you the opportunity to have control over your assets — because otherwise the state will decide for you.
- What happens to your pets? You may include clauses in your estate plan for who takes ownership of your pets after you pass away, whether it’s a family member, friend or animal shelter.
- What limits do you want to place on life-saving measures? You should create a health care directive to give instructions about your care if you become incapacitated. Some people, for example, say they do not wish to be kept alive by machines. These types of scenarios are uncomfortable to think about, but are important parts of an estate plan.
- What happens to your digital profile? You need to keep a record of user names, passwords and security questions so that your loved ones may close online accounts. This is a relatively new issue in estate planning, and it continues to evolve as technology changes.
For the guidance and advice you need when drafting your estate plan, speak with a skilled Clearwater attorney at the Charles Law Offices.