When creating your estate plan, you want to make sure that you dont forget to include any important aspects. In order to have an effective estate plan, there are many things that you will likely want to consider. Take the following tips into consideration when planning your estate. Consult with one of our estate planning attorney to discuss your specific needs.
- Create a will.
- Do you want to name a guardian for your minor children?
- Do you want to choose who will receive your assets after your death?
- Do you want to appoint a responsible person who will be in charge of managing your assets and winding down your financial life?
If you answered yes to any of the above questions, then you will want to include a will in your estate plan. A will allows you to do all of the above. Without a will, your wishes may not be followed.
- Make healthcare directives.
- Do you want to have a say in important medical procedures and treatment options?
- Do you want your medical wishes to be respected?
- Do you want to have a say in whether you remain on life support when you are in an irreversible coma?
- Do you want someone to be responsible for making sure that your healthcare wishes are followed?
If you answered yes to any of the above questions, then you need to have healthcare directives. With a living will, you can make end of life medical decisions. You can also create a healthcare power of attorney which will allow you to appoint an agent who will help to make sure that your medical wishes are followed as well as well as communicate with medical professionals during your time of need.
Make sure that you consider the above estate plan tips and please refer to part 2 of this 2 part article.
If you have any questions about the need for a complete estate plan, consult with a qualified estate planning attorney.
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