There are no guarantees for tomorrow so get prepared today
Selecting a Power of Attorney
The most important thing to do when you begin to get your affairs in order is to select your Power of Attorney. This is someone who will make decisions on your behalf if you are no longer able to make them for yourself. You may select one person to handle everything. Or you can divide the responsibilities and name someone to handle financial decisions and another to direct your health care decisions.
Creating a Last Will & Testament
In your Last Will & Testament, you will select your Personal Representative (the person in charge of your Estate after you pass away) and give them a set of written instructions so they can properly carry out your wishes. Your Last Will & Testament can be as simple or complex as you’d like. Just make sure you have one. If you pass without a Will, your assets will be divided through an Intestate Probate Proceeding – which can be a lengthy process and may not be how you would want your estate handled.
Understanding Living Wills and Trusts
A Living Will specifies what actions should be taken for their health if you are no longer able to make decisions for yourself because of illness or incapacity. For example, if these is no hope for recovery, would you prefer to be kept alive by artificial means or pass away naturally?
The other documents to consider are Trusts, especially if you plan to leave inheritance to a minor. Trusts provide guidelines on how the minor will have access to your assets.
CONTACT US TODAY TO START YOUR ESTATE PLAN: 402.718.8888
