This month, Americans were once again consumed by a Mega Millions jackpot as its value continued to rise to become the second largest in history. Some lucky South Carolina lottery player is now $1.5 billion richer. Even if it's being split among a dozen co-workers, that's a considerable windfall.
When individuals are asked if they've drafted a will, they often say that they haven't because they don't want to plan for their death while trying to live. If you ask a business owner if they have plans for the future of their business, they'll likely tell you much the same. Your lack of planning for the future can cause your loved ones added stress and grief upon your passing if these issues aren't addressed.
When creating an estate plan, most of your attention will go toward what happens to your assets upon your death. This is a big deal, but it's not the only thing to think about. You also have to plan for a potential incapacity down the road.
The idea of creating an estate plan may not thrill you, but once you complete the process, you'll look back and realize it was the right thing to do. Furthermore, with an estate plan in place, you'll have more peace of mind in regard to the future.