The gift of an estate plan lasts a lifetime and beyond. In case of an unexpected event, like an accident, an illness, or death, your loved ones can feel comfortable knowing that your final wishes are in place. During a crisis, an estate plan removes the guesswork surrounding:
• Your end-of-life care
• What will happen if you become incapacitated
• Who gets your assets
• How to honor your memory
It gives those closest to you guidance so they don't need to make important decisions while they grieve.
An estate plan can also prevent fights over your assets and your intentions. Without an advance directive for health-care, others you don't want to be involved may make medical decisions for you. Without a power of attorney, your family might not be able to pay bills or access your financial accounts. And if you die without a will, your estate could go to someone from whom you are estranged - or even unknown, such as a distant relative.
How An Estate Plan Keeps On Giving
An estate plan gives you control over your future. It lets you protect your assets while you're still alive. You get to decide who will act for you on financial, medical, and other important decisions if you can't do so.
And if you have minor children or dependents with special needs, you can name who you want to be their guardian and manage any assets they may inherit. With blended families, the situation can become complicated. For example, your own children might not inherit your estate; in some cases, a surviving spouse could decide to disinherit them. An estate plan protects all of your loved ones while you make your intentions clear.
You don't have to be a senior citizen or a parent of young children to create one. Any adult at any age and in any stage of life should have one.
Our basic estate planning package includes:
• A will
• A power of attorney
• An advance health-care directive
If your estate is more complex, it may also involve a trust that someone else manages for the benefit of others. For instance, owners of a camp or a vacation home can create a family camp trust to preserve it for future generations.
An estate plan isn't just something to add to your "to-do" list. It's the perfect gift at any time of year. But there's no time like the present. Family gatherings provide an opportunity to discuss one.
When you prepare for an estate plan, you may feel overwhelmed. But the process doesn't need to be difficult. Our experienced attorneys can guide you through asking you the right questions to help you make the right choices. To learn more about giving the gift of estate planning, contact us online or call us today: (207) 377-3966.