Is Estate Planning Necessary for Everyone?

Are you someone who should work with an estate planning lawyer on an estate plan and relevant documents? If you are an adult, the answer is yes. Throughout Connecticut, myths and misconceptions about estate planning circulate. Some people assume estate planning is only for older adults, while others assume it is only for wealthy people. While older adults and wealthy Connecticut residents should certainly have estate plans, so should every other adult, too. Nobody knows precisely what the future holds, and it is essential to be prepared. Accordingly, every adult should talk with an estate planning lawyer about certain estate planning documents and tools that are critical to have regardless of your age, socioeconomic status, or health. An experienced Connecticut estate planning attorney at our firm can tell you more.

Certain Estate Planning Documents Are Essential for All Adults

For all adults, certain estate planning documents are essential, including:

• Valid and enforceable will, through which you can leave assets to loved ones and make plans about guardianship for your minor children; and
• Advance directives, through which you can express wishes concerning your medical care if you become unable to voice those decisions yourself.

Working with an Estate Planning Lawyer is Critical

You might be wondering if you really need to engage in a process of estate planning with an estate planning attorney if you have relatively few assets and are only planning to make a will and to create advance directives. Even though these documents may seem relatively straightforward, it is always best to work with an attorney even on these documents alone — if they are not executed properly according to Connecticut law, they will not be considered valid when they are needed.

In other words, your wishes in your will may not be honored, and your property could be distributed according to Connecticut intestate succession laws. Further, important decisions you have made about your health care in the event of your incapacitation may not be honored if you have not properly completed your advance directives. An estate planning lawyer in Connecticut can ensure that these documents are valid and enforceable.

Estate Planning Tools for a Range of Situations

In addition to creating a valid and enforceable will, as well as advance directives, there are a range of other estate planning tools that may be able to benefit you and your family based on your individual circumstances. Trusts can protect assets from probate, but they can also be essential if you support a disabled adult who will need to continue relying on asset-based benefits. Trusts can also allow you to engage in Medicaid and long-term care planning.

For anyone in their 40s or 50s, or those with aging parents, estate planning is also a time to start thinking carefully about asset-protection strategies with an eye toward long-term care. Our estate planning lawyers can help.

Contact a Connecticut Estate Planning Lawyer 

While many myths and misconceptions circulate about estate planning, it is essential to know that estate planning is important for all adults — regardless of assets, health, and age. Although specific estate planning needs will vary from person to person, the process is a critical one. Whether you are considering estate planning for yourself or for an aging parent, an experienced Canton estate planning attorney at the Law Office of Brian S. Karpe can assist you. Contact us today to learn more about estate planning tools that can benefit you and to get started.

Sources:

cga.ct.gov/2019/pub/title_45a.htm

cga.ct.gov/2021/pub/chap_802a.htm#:~:text=A%20will%20or%20codicil%20shall,admitted%20to%20probate%20in%20this