There is a misconception in the society that only rich people should do estate planning. The truth is that this is a wrong way of thinking. Everyone who has a property even if it is just one should do so. Also, don't think you are too old or too young to do it. The only thing you can be when it comes to estate planning is too late to do it. Remember that you can be rendered unable to take care of your property anytime. This will mean that the court will have to decide on who will manage the affairs and the probability that they will choose the ideal person for you is low.
For people who have families, estate planning means your family will be in good hands in case you are not there. For minors, there can lose everything if there is no guardian to take over matters for them. With estate planning, you will be able to choose the best guardian for the property as your children grow and you will also decide the age at which they can receive the property. These are very crucial issues if you love your children and you do not want them to suffer.
When you die and you have not sorted out the affairs of your estate, you will have given the leeway to court wrangles. The bad thing about this is that a large part of your property will be lost in court or to the government. Working so hard in your life only for your wealth to go to the government is not something that everyone wants. Therefore, to make sure your affairs are handled without bringing the government into the matter is the best thing you can do to keep everything you have gained.
When members of the family do not know your wishes, the chances that they will fight for your property are high. This is one of the things which can lead to a broken family. Leaving the family to figure out what you wanted is putting them in a bad position with each other especially if they cannot agree. If you want peace to prevail in your family even when you are not around to offer guidance, you should decide who gets what early enough. Many of the beneficiaries left behind will be satisfied getting what you had left for them and they will not fight each over this.