Estate Planning is an Essential
Do you often hear the term “estate plan” in conversations with friends, colleagues, or family members? Estate planning is a crucial topic, especially as we age. It offers a comprehensive strategy to safeguard your finances and health, providing peace of mind. Regardless of your age, creating an estate plan early allows you to prepare for unforeseen circumstances and resume a worry-free life.
What’s in an Estate Plan
An estate plan comprises vital legal documents that outline your wishes concerning your finances and health during your lifetime and after your passing. The specific documents may vary based on the level of planning you require. At our firm, our estate planning packages typically include these four essential documents:
- Trust: Choose between revocable or irrevocable trusts based on your estate planning goals. Trusts hold and distribute assets to beneficiaries of your choice while bypassing probate.
- Last Will and Testament: This important document details how you want your possessions to be distributed. However, a Last Will alone does not avoid probate. To ensure probate is avoided, it can be poured over into the Trust.
- Power of Attorney: A Durable Power of Attorney empowers a trusted individual to manage your finances when you are no longer capable or willing to do so.
- Health Care Directive: Also known as a Health Power of Attorney, this document appoints agents to make health decisions on your behalf if you become unable to decide for yourself.
No More Delaying!
Now that you understand the benefits and advantages of estate planning, why wait any longer? Start planning now to free yourself from the stress of an uncertain future or unexpected life events. We witness the negative impact of such situations on individuals and their loved ones too often. Avoid unnecessary stress and take control of your future by scheduling a consultation with our firm to begin your own estate plan.