Many people do not appreciate the full importance of estate planning offers. The consequences of having or not having plans in place can affect friends and family for generations. Without an iron-clad estate plan in place, a decedent will leave their loved ones with more questions than answers.
Regardless of how large an estate is, passing away without an estate plan can cause complications for years. The outcome of claims to an unspecified estate can take years to resolve. And the consequences of that can last even longer.
How a decision today can impact tomorrow
If a person passes away without an estate plan, it can cause considerable confusion. Family members and even close friends can spend significant amounts of time and money to settle the estate a person left behind. Also, if a court decides how to split the estate, that does not mean the loved ones will agree with the decision.
Anyone who does not receive the inheritance they felt entitled to will likely hold a considerable grudge against those who earned a share of the estate. These feelings can lead to severed relationships between siblings and children. The money that might have been used for the wellbeing of many can result in the misfortune of many.
Even if a decedent left their estate to a single person, it could still remove any uncertainty in the loved ones of the deceased. When relatives do not have to guess about what their loved one wanted, it can remove all of the strife that comes with fighting over an estate.
Anyone can avoid these disagreements
Now is always the best time to begin making an estate plan. A few days of planning today can prevent years of in-family fighting. An estate planning attorney can guide someone through the planning process swiftly and efficiently.