Estate planning should be a top priority when it comes to financial and future planning. This is especially true if you have a great deal of assets or if you operate a business. According to Harvard Business Review, around 70% of family businesses do not survive to the second generation due to a lack of proper succession planning, highlighting the importance of legal guidance. Here are a few reasons why planning with an estate planning lawyer is so important.

Protect What You've Earned

You've worked hard to earn what you have. You want those assets to be used according to your intentions. If you have not properly planned for your future with legal support, you will not have control over what happens after you pass on. An estate planning lawyer can help to ensure that your assets are used properly.

Protect Your Family

Many families don't realize the negative consequences of poor or absent estate planning. When this process isn't handled properly with a lawyer, families can be left vulnerable. Families who are expecting to be cared for and provided for may find themselves suddenly without adequate resources when property or assets get tied up in probate. Making plans for the distribution of your assets ahead of time will ensure that your family is always properly provided for.

Simplify Your End of Life Arrangements

Estate planning is something that you do for your family, rather than for yourself. Your family, who will already be grieving your loss, will be the ones left to deal with any complications that develop due to poor estate planning. Hiring estate planning services will ensure that your family doesn't have excessive amounts of stress to deal with alongside the grief of losing a loved one.

Avoid Legal Issues

When you set your wishes in stone, you'll be able to avoid many legal issues that your family would have to navigate. When assets or property go into probate, it can get very complicated very quickly. If your estate planning doesn't include adequate health planning, there can also be legal consequences for your care if you become incapacitated or disabled.

Looking to initiate this process for yourself? If you're in need of an estate planning lawyer, please contact Marino Law P.C today. We are here to assist you with your legal needs.