Tuesday, May 22, 2018
Estate planning gives you peace of mind so you can enjoy retirement to the fullest. While we understand most clients don’t like confronting their own mortality, you shouldn’t put off creating a will and appointing a power of attorney.
Estate planning lets your loved ones know how you would like your personal effects distributed and what decisions you would like made on your behalf in the event you are incapacitated.
Continue reading to learn how to start estate planning. For more information, contact an estate planning attorney near you.
Hire an Estate Attorney
The last thing you want is loved ones fighting in court after you’re gone. An estate attorney will help you avoid inconsistencies and loopholes that could lead to people challenging your will. Estate attorneys know how to create documents that will stand up in court so you can enjoy peace of mind.
Estate planning doesn’t have to be tedious when you work with an estate lawyer. Your lawyer will be able to walk you through the process so you can protect assets, describe preferences for end-of-life care, and convey your last wishes to loved ones. Even the smallest estate can benefit from the expertise of an elder law attorney.
Appoint a Financial Power of Attorney
You are able to appoint a financial power of attorney to manage your estate in the event you are incapacitated and unable to do this for yourself. The power of attorney gives someone you trust the right to handle finances, assets, and other legal matters in your stead. While a power of attorney can handle both financial and medical matters, many of our clients choose to divide these duties between two people. Before appointing a financial power of attorney, be sure to consult with your estate planning lawyer.
Appoint a Medical Power of Attorney
A medical power of attorney is able to make medical decisions on your behalf in the event you are incapacitated and unable to make these decisions for yourself. Carefully choose your health care power of attorney, as this person will be responsible for determining your end-of-life care, when to end life support, and other important decisions. We recommend you write an advance directive with your elder care attorney so your family knows your final wishes.
Write Your Last Will and Testament
Do you have a last will and testament? If not, you’ll want to hire an estate planning attorney as soon as possible. While it may be tempting to write a will on your own, an attorney will be able to help you avoid inconsistencies and loopholes that could lead to your will being contested. DIY wills are often challenged in court for being too vague.
A will lets your survivors know your final wishes for how you would like money and items distributed. Your legal will can distribute tangible property and money to family, friends, organizations, and even strangers. Hire an attorney experienced with writing a will so you have peace of mind that your final wishes will be honored.
Our Hastings estate attorneys are dedicated to helping you plan for the future through asset protection, Medicaid planning, and other elder law services. To schedule a consultation with one of our lawyers, call Longstreet Elder Law & Estate Planning at (269) 945-3495.
Medicaid Planning