Some people set up an estate plan because they are simply looking to the future and want peace of mind, while others experience an unexpected crisis which prompts them to create a trust or will in order to protect their assets. For example, a health scare may cause someone to set up an estate plan much sooner than they were expecting. If you have recently suffered a medical emergency that you did not see coming, it is crucial to not only protect your health but your finances as well. These situations may also cause people to create an estate plan at a relatively young age.
From a cancer diagnosis to a heart attack or an injury that results in permanent immobility, there are many different ways in which lives can change abruptly. Not only can a health scare cause someone to worry about their assets and how they would be distributed among those they love if they should pass away, but it can even change the rest of someone’s life from a financial angle. From excessive medical debt to losing the ability to work any longer, people may need to rethink their own financial future after a health scare, which may necessitate the modification of an estate plan.
Our law office realizes that various challenges that people may suffer through following a health scare and we believe that people who are facing these hurdles should access the information they need promptly. Our estate planning webpage covers other issues related to setting up an estate plan.