Resist putting off implementing these five estate planning essentials:
Will. Look around you right now. Everything you see has to be distributed in the event of your death. Your Will names the person you want to handle it all and can also indicate who you want to receive it all. If you don’t have a Will, a Judge decides who is in charge of your affairs and State law provides who receives everything you own. Take control now by getting your Will in place today.
Trust. Trusts are used to transfer your property without having to go through an expensive, and unnecessary Court process that is completely open to the public. There are a wide variety of trust strategies that a lawyer can tailor to meet the individual needs of you and your family.
Power of Attorney. A power of attorney gives someone you choose the legal authority to handle your finances if you are not able to do so. Powers of attorney can become effective immediately or when something happens like a sudden illness or incapacity.
Advance Medical Directive. This document, also known as a health care proxy or durable power of attorney for healthcare, or living will, gives someone you choose (your representative) the legal authority to make healthcare decisions for you in case you become incapacitated and unable to make those decisions yourself.
Kids Protection Plan. If you have minor children, you need a comprehensive set of documents to ensure they are taken care of by the people you want, in the way you want, no matter what. Not just for the long-term, but also in the immediate term if and when something happens to you. A Kids Protection Plan does just that. A licensed Personal Family Lawyer has the skills, training, and resources to create a comprehensive Kids Protection Plan for your family, so call us today if you do not have one in place already.
If you’re ready to do the right thing for your family and create an estate plan, call our office today to schedule a time for us to sit down and talk. We normally charge $500 for a Legacy Planning Session, but because this planning is so important, I’ve made space for the next two people who mention this article to have a complete planning session at no charge. Call today and mention this article.