Everything we own is in our names as individuals. As such, we are the only ones who can exercise management and control over those assets. That's fine so long as we are alive and so long as we are mentally competent to manage our own affairs.

Now ask yourself this question; who will have the legal authority to exercise management and control over your estate if you become unable to manage it yourself?

The answer is no one, because even though we are unable to manage our assets, our name is still on title isn't it?

An institution will only allow the person whose name is on the account to have access, and that is what we want if we are hale and hearty. But if something happens to us, then what?

If we have not created an estate plan prior to becoming incapacitated or dying, then no one will have the ability to seamlessly manage and control our estate in the manner we want. Probate is the process your loved ones will be forced to initiate in order to gain the legal authority to manage and control your assets.

Ask yourself in whose lap will this problem fall, and would you want them to have to deal with these issues?

Ask yourself also this question; will they be able to deal with these issues without professional help, or will they have to hire an attorney to handle the Probate?

Since they most assuredly will have to hire an attorney, shouldn't you be the one to do the hiring and prevent these issues from falling in some loved one's lap?

There is both pain and money to be saved if one plans ahead!