Hi, my name is Kirsten Krueger and two years ago, I was in a car accident. I was stopped at a stop sign when the driver behind me slammed into my car. Due to my injuries, I had to spend a few days in the hospital and I was unable to work for two months. My medical care was expensive and without being able to work, I couldn't pay my bills. The car accident was stressful enough and then I had to worry about how I would pay my bills. After speaking with a car accident lawyer, it wasn't long before I was compensated for my medical bills and lost wages from work. I'm writing this blog to help others who have been a car accident and haven't received any compensation. As you read my posts, you'll learn how an attorney can help you if you're in a vehicle accident.
There are many misunderstandings surrounding estate planning. Many people think that they don't need an estate plan, or that they can't afford one. Sadly, these beliefs are completely false and are dangerous for your estate and your minor children. Here are three common myths surrounding estate planning.
Myth: I'm not dying, so I don't need an estate plan.
Fact: Everyone will die; it is just a matter of time.
Just as each person was born, each person will die. Unfortunately, nobody knows the time or the circumstances surrounding their death. Some people die after a long full life in their elderly years, and others are taken young and unexpectedly. The important thing is that you are prepared and that you have a plan for your family and loved ones. The best time to create an estate plan is when you are young and healthy. This will allow you to take time to make the plan exactly how you want it and make sure that your family is taken care of.
Myth: If I die, the state will just give everything to my loved ones.
Fact: The state has strict rules as to how they distribute the estate, so it may not go to those you want.
If you pass away the state will not look at your individual case and try to decide what is best for you. Instead, they will generally give everything to your next of kin. This means that it might be a spouse, living children, a sibling etc., If you have stepchildren, foster children or other people that you want to have some of your money, it will not happen unless you explicitly state it in an estate plan.
Myth: I just need to write down what I want and the state will honor my wishes.
Fact: Unless your estate is properly authorized, the state will discard it.
Don't think that if you have a piece of paper with your wishes written on it that it will be honored in court. Instead, the documents must be signed and notarized in order for the court to honor them; otherwise, your estate will go through a process called intestate. This is when the state decides who gets guardianship of your minor children, how to distribute your wealth and anything else associated with your estate. This is why it is so important that you get an estate plan properly executed with an attorney like Auton-Beck Betty A Professional Law Corporation.
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