Preparing for the future is something that we should all do, but many of us fail to do adequately. There may be a few reasons for this. First, many of us keep telling ourselves that we have time to prepare for the future. The problem is that we keep telling ourselves that until, eventually, we are out of time. The second reason we put off planning for the future is that we are afraid of what we must confront. This may be especially true when it comes to estate planning, as most of us don't want to think about the end of life.
Yet, estate planning shouldn't cause you to think about yourself. Instead, estate planning is about figuring out how best to take care of those you love. When a well thought-out estate plan is kicked into action, beneficiaries can be left assets in accordance with an individual's wishes, taxes may be avoided and excess costs may be dodged. Additionally, an estate plan can create powers of attorney that ensure that your medical and financial decisions will be adhered to in the event that you are suddenly rendered unable to make those decisions.