Why should you book a call with a Colorado Springs Estate Planning Attorney?
While most people know that estate planning can help you prepare for end of life decisions and protect your family from a lot of pain and stress later down the road, many people do not understand how estate planning helps you manage your life DURING life and all the transitions that come with it. If you fall into one of the following categories, you should meet with a Colorado Springs Estate Planning Attorney to design a plan that focuses not only on the future but for your life now.
If you are Single…
Estate planning is not just for preparing for death. Estate planning also helps you plan for problems that can happen during life. For example, have you ever had questions similar to the following questions, and if so, do you have answers? Estate planning makes sure you have a plan in place to live your life with confidence.
- If your wallet gets stolen while you are on vacation, who has permission to access your bank account in the US wire you more money that day?
- If you are unmarried and you get into a car crash, how will your significant other be able to get information about your condition if they are not “next of kin”?
- You may not have children, but what about your chocolate lab who has been your hiking buddy for years? Who will take care of him if you cannot be there for him?
If you just started a family…
If you just started a family, you know the incredible love you can have for someone you just met. You will do everything you can to love and protect your child, but you need to know that you have a backup in case something happens to you. Estate planning will help you answer the following questions and plan for your child’s future well-being:
- Who will be the guardians for your child if something happens to you?
- Where will they go to school? Is private school an option? What about college?
- Will they be raised in a certain religion or faith? Does your faith have certain requirements that must be considered during your child’s upbringing?
If you have children with special needs or addictions…
Many times people know they need a will, but they have not thought through exactly what their plan needs to look like and what specific issues may arise. For example, if you have children with special needs or family member with potential addiction issues, the following questions are just a few of the things an estate plan can address:
- How will you distribute income to your child to ensure that their needs are being met, and they have the proper health care?
- How can you keep someone from abusing their role as a caretaker and taking your child’s entire inheritance away?
- How can you be sure that if you leave an inheritance to your child, they will not use the whole amount on drugs or alcohol then be left in a worse position?