Why Estate Planning is Critical For Seniors and Parents

If you're a parent, you might not have thought about Austin estate planning attorney very much, especially if you're very young. It's a grim subject to talk about, but it's something you really ought to do for the sake of your children. If a court appointed executor has to deal with your estate planning after your death, your children might not receive the full inheritance that they should get. What happens often is that the executor doesn't know the true value of your assets, and they get auctioned off for much less than market price – this happens frequently to heirlooms and collectibles, as well as anything stored in bank deposit boxes 

 

What will happen to your children is also a prime concern, especially in the event that you and your spouse or co-caretaker pass away simultaneously. You might have a specific family member or friend in mind that you'd like to take care of your kids after your death, but if you don't spell this out in your will, there will often be a court battle for custody between several people who all think they would be the best one for the job. While well intentioned, this is very stressful for your kids.

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