In a world full of uncertainties, an estate plan is a great way to prepare your assets, choose a power of attorney, and provide stability for your family. The holiday season is a great time to give the gift of an estate plan. There is nothing like the feeling of knowing that your family is taken care of for years to come. It is also a gift to provide that same feeling to your loved ones, so they know that there is a plan in place to protect them.
Why You Need an Estate Plan:
When preparing your assets to distribute to your family, it is important to consider all aspects. A will is a great starting point to ensure that your assets are issued properly, but setting up an entire estate plan created to fit your exact needs can benefit your loved ones in many ways. Advantages of an estate plan include:
- Financial security is guaranteed for your loved ones, creating a legacy that provides comfort and stability.
- No one will be stressed or concerned about the next steps regarding your assets.
- There will be no need to bicker about who is getting what, as it will all be left up to you.
- The people you love will be protected. You can designate a guardian for minor children, and those you love will be taken care of according to your wishes.
What’s Included in an Estate Plan?
Estate planning can include a variety of different documents, depending on your needs. Estate plans can be fairly simple or extremely thorough, and can include any of the following elements:
- Will: a legal document that directs all your assets upon death. Without one, the state will distribute your assets.
- Durable Power of Attorney: a legal document that allows a chosen person to make legal and financial decisions for you if you were to become incapacitated.
- Healthcare Power of Attorney: a legal document that gives a chosen person the ability to make health care decisions for you if you become incapacitated.
- Living Will: also known as an advance healthcare directive, is a legal document that details your wishes regarding medical treatment if you become incapacitated.
- HIPPA Authorization: a legal document that gives your medical providers consent to share your medical information with family and friends of your choosing.
Do You Qualify for an Estate Plan?
Every adult qualifies for an estate plan and should have one prepared, no matter what your assets are. Besides distributing your property and belongings, an estate plan grants you the ability to have control over things like who will make medical decisions for you, who will manage your finances, and even who will become the guardian of your children. Aside from the monetary aspect, preparing an estate plan gives you the final say in all of your arrangements, leaving nothing up for interpretation.
How To Get Started:
Contact Craft Law Offices to schedule a consultation to begin planning your estate. Leslie Craft has over 30 years of experience crafting estate plans to meet any and every individual need. When you consult a professional, you can ensure that your estate plan will follow all laws and guidelines to ensure everything is in order. There is no better time to give the gift of peace of mind than during the holiday season! Call our office today, 252-752-0297.