Many people believe that estate planning can only be done by the wealthy or the elderly. It is not true. No matter your age, it is crucial to meet with estate planning lawyers so that you can ensure that everything goes according to plan in the unlikely event of a disaster.
People think about estate planning when they think about making a Will. Planning attorneys are able to help you make a valid will. Your heirs will not be able to fight over your assets or possessions upon your death. Estate attorneys are more than just helping you to write a will.
An estate planning attorney can help you devise comprehensive strategies to protect your assets. These strategies will prevent you from being subject to high estate tax and also keep your wealth safe from being lost or damaged if you are incapacitated or ill. Estate planning lawyers can help you set up trusts to protect your assets and make the right plans for long term care insurance.
Estate planning lawyers will help you ensure you are taken care of in the event that something happens so that you are not dependent on your family to take your place during your time of sorrow. You may not be aware that estate planning attorneys are able to do many different things.
Helping to establish a power attorney
Trusted people will be able to take care of your finances and speak for you if you are unable to do so. Your family could be prevented from accessing your bank accounts or making decisions on your behalf if you don't name a power to attorney. This is unless a court order has been granted. This is not something you should do. Don't let your family suffer. You can trust someone to look after you when you're not able.
Helping You to Establish a Living Will
An estate attorney will help you create a living will. This is one of the most important things they will do. A living will is a document that outlines what will happen in case you are diagnosed with a serious medical condition and require life-saving medical attention. Your living will can be used to specify the extraordinary measures that you wish to use to prolong or save your life. A living will is necessary to ensure that you are not putting your family in a position where they "pull the plug", so to speak.
Helping to ensure your children and pets are well taken care of
Trusts and wills will partly determine who inherits your assets upon your death. But you'll also need to make other arrangements, such as who will be the guardian for your children or who will care for your pets. Estate planning lawyers can help you ensure that these important issues are addressed.
These are just a few things experienced estate plan attorneys can help with. Contact an estate planning attorney in your area today to set up a consultation.