When you create your estate plan, you will be forced to make many difficult decisions. This will allow you to develop a plan that fits in with your needs and meets your goals. Take a look at the information below to better understand the decisions that go along with planning. If you have any questions, or if youd like to create an estate plan, contact a qualfied estate planning attorney.
When creating an estate plan, you are forced to make difficult decisions. While it can be hard to think through these choices, they can help you better plan for the future. Take a look at some of the following decisions:
- You will need to appoint trusted helpers to help you with various affairs. This may include appointing an executor to manage your estate, a trustee to handle your trusts affairs, a guardian for the care of your children, and agent to make decisions when youre unable to.
- You will need to decide if you wish to plan for medical emergencies. This includes making sure that your financial affairs and medical affairs are always in order. You can do this by creating a financial power of attorney and power of attorney for healthcare.
- You will need to decide how you wish to distribute your assets after your death. Without a plan in place, your states laws will determine how your assets are distributed. Carefully making this decision will allow your assets to go to the right people.
- You will need to decide if you plan for future costs. This may include planning for long term care costs with the use of life insurance. It may also mean using life insurance to make sure that your family is always protected in the future. These decisions could mean the difference in the future.
If you have any questions about estate planning decisions, or if youre ready to start your estate plan, consult with a qualified estate planning attorney.