There are obvious reasons to use the services of an estate planning attorney when you have a portfolio of assets and a number of heirs you want to leave an inheritance. From how the estate will be divided to who is going to inherit any direct life insurance policies, planning your assets for when you are gone is only part of the process. There may come a time when you are not able to make your own decisions, yet you are alive and need care. When you work with an estate planning attorney, you can set up a health care proxy, powers of attorney, your own burial wishes, and more so that your wishes are all carried out no matter what.
When You Become Incapacitated
You may become unable to make medical or financial decisions for yourself at some point in your life. Whether you need an individual to temporarily make medical decisions for you, or you will need support until the end of your life, you can assign an individual to be responsible for these decisions.
With your estate planning attorney, you can document exactly what you want to happen in different situations. For example, if you are on life support, you can create advanced directives that let your health care proxy know what you want to happen.
Setting Up Your Burial
While it is difficult for some people to think about their own funeral and burial, it is a great gift for your family when you set up and pay for your final expenses. Whether you want an elaborate church funeral, or you would prefer minimal to no services, let your family and friends know by creating a burial plan. This takes a big job off of your loved ones who are going to be grieving your passing at the time.
If You Have Young Children
Estate planning is not just for those that are getting older and want to leave assets to assigned heirs. If you have young children, it is important to plan your estate to care for their needs in the event of your untimely death. You will want to name legal guardians for your children and determine how you want your assets set up to take care of their future needs.
Estate planning can be a complicated process. The planning needs you have as a younger person will change as you get older. Contact an estate planning attorney to get started on your estate so that your family will know what you want to happen.Share