Do You Need An Estate Plan?
If you're at a good point in your life and are constantly busy, you may assume that an estate plan isn't a necessary tool right now. Many people assume they don't need an estate plan or that they will always have the chance to create one in the future. The truth is, you likely need a plan. It's best to do the planning work now before it's possibly too late. Take a look at the following information to better decide if you should meet with an attorney soon to plan your own estate.
Do You Have Children?
If you have minor children, it's your job to make sure that they're always protected. If there ever comes a time where you're no longer able to care for your children, you want to ensure that a trusted family member or friend is able to take over your responsibilities. An estate planning attorney can help you create a will, which allows you to appoint a guardian to provide care for your children in the future, if you're not able to do so.
Do You Want to Choose How Your Assets Are Distributed?
When you die, your assets will be left behind. Creating an estate plan makes it possible for you to have full control over how your assets are given away. You can decide who gets each item and you can even make sure that certain individuals receive nothing, if that is your wish. This can give you peace of mind knowing that your assets will go to the right people.
Do You Want to Prepare for Medical Emergencies?
You never know when you may find yourself in a serious medical emergency situation, such as being incapacitated. In this situation, you will be unable to communicate with medical staff and to make medical decisions. You will also not be able to handle your own financial affairs. By hiring an attorney, you can create power of attorney documents and appoint trusted loved ones who will help you with these important needs, if the situation ever arises.
Do You Want Control Over Your Funeral Affairs?
With the use of an estate plan, you can have full control over your funeral affairs. You can decide what type of service you want to have and who is able to attend your service. You can even prepare for the funeral costs well in advance so that your loved ones don't have to deal with the financial burden.
As you can see, an estate plan is an important tool. If you're ready to discuss your estate planning needs and goals, contact an attorney like those at Gearing Rackner Engel And McGrath LLP today.
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