Anyone who will die someday needs to plan for that eventuality! Planning for disability or incapacity is also a concern for most of us. Even those in their 20’s and 30’s have a greater than 40% chance of being disabled for at least three months prior to age 65. Of course, none of us think this will actually happen to us, but we plan for things which are much less likely to happen.
Who would think of going without car or fire insurance? Yet, the chance of being injured in a car accident this year is about 1 in 100; the chance of your house burning down this year is about 1 in 2,500. We think we will have a warning and can prepare for death or disability. Unfortunately, that is often not the case. Even if we could wait to the last minute, doing so would add immeasurable pressure, stress, and difficulty during an already difficult time in our lives. Without planning, your family is often left struggling to pick up the pieces during an already tumultuous time.
Contributed by MH Phoenix, Scottsdale and Arrowhead Estate Planning Attorney and Partner David Eastman.
About Morris Hall:
At Morris Hall, we have focused our legal practice on estate planning for over 40 years. Along with estate planning, our attorneys help clients and their families with matters of probate, trust administration, wills, power of attorneys, business planning, succession planning, legacy planning, charitable gifting and other important legal aspects. We also have divisions in financial, real estate and accounting to help you incorporate all of your planning together, ensuring that everything works perfectly for your needs and situation. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Cave Creek, Tucson, Prescott, Flagstaff and Arrowhead. Our New Mexico offices are located in Albuquerque, Las Cruces and Santa Fe. Contact us today at 888.222.1328 to schedule an appointment!
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.