Here is part two of the depressing series about what happens when you die. I read this fantastic article, What Would Happen if you Died Tonight, and thought I would put my own spin on it, though it does a great job of laying out the issues.
We all know that we need to do some kind of estate planning, but many of us don’t know what, or how, or even how to find help. We also know that we don’t really want to think about it, so all of these obstacles can add up to just not doing anything. Are you one of those who has no plan in place? Well, then this is the article for you.
What would happen if you died tonight? What would happen to your children? Who would care for them? Would you have several family members fighting for that right and responsibility? Does your estate have enough money in it to care for your children’s financial upbringing, or will your children be a financial burden on their new caregivers, too?
How about your assets? Would they be tied up in probate for years because you did not create an estate plan? Would you put your loved ones through that time, money, hassle and stress because you couldn’t find time to put a trust into place? Who would get your stuff? Is there an heirloom ring that your children will fight over because they don’t know who should have it? Will your family be torn apart by the stress and grief of your passing, and all of the responsibilities and burdens you left for them?
These may seem like drastic and overly-dramatic questions, but if you have ever experienced the death of a loved one, or known someone who has, you know that these are very real considerations. What would it really be like if you died tonight? Would you have put your affairs in order to protect your loved ones? Or will you make them figure it out on their own?