Readers of this Woodland Park-based legal blog may have been shocked to learn of the sudden passing of actor, Luke Perry. Perry was only 52 when he succumbed to the effects of a massive stroke and died days after being taken to the hospital. While his situation is a tragedy, it is also a good reminder for Colorado residents that the future is uncertain and it can be wise to make important decisions before it is too late.
This is especially true when it comes to estate planning. An estate plan is a set of legal tools that explain how a person wants their estate distributed when they die and who has control over certain important management aspects of ensuring those wants are honored. An estate plan does not have to be fancy to accomplish the goals of the person who creates it.
An estate plan is a good idea for anyone to make because it allows an individual to plan for their individual needs and personal wants. It gives them control over ensuring that their children and grandchildren are provided for when they are gone and also allows them to make contributions to charities and causes that are important to them. Estate planning takes the guesswork out of closing out an estate when the decedent left no instructions on what should have been done with their possessions and wealth.
No one wants to think about the end of their life, but tragedy can strike at any time in this uncertain world. Creating an estate plan is a simple step that anyone can take to protect themselves and their loved ones from the emotionally and financially challenging situations that can arise after a death.