Estate planning can help manage your financial affairs during your lifetime and help you control the distribution of your wealth after death. An effective estate planning strategy can spell out your healthcare wishes and ensure that they’re carried out – even if you are unable to communicate. It can even designate someone to manage your financial affairs should you be unable to do so.
Without an estate plan, your assets could end up going through the probate process and be distributed by the courts after you die. As a result, your family could be burdened with unnecessary stress and legal fees during what will already be a difficult time.
It’s important to realize that estate planning isn’t just about preserving and distributing your assets after you’ve died. Estate planning is a crucial part of helping preserve and manage those assets during your retirement years as well.
When it comes to estate planning, the basic package consists of having a Will, a living trust, and some form of Durable Power of Attorney in place for making financial and/or healthcare decisions. It won’t cost you an arm and a leg to get these items in place, and the peace of mind these estate planning tools can provide is priceless.
If you need help selecting a qualified estate planning attorney to provide legal advice and write the required documents, we can help with that. Plus, they’ll often give you a discount because of our relationship with them.