Estate planning is a process of determining how your assets will be distributed upon your death, and how you will be cared for if you ever become disabled or incapacitated. This process involves creating a set of legal documents designed to accomplish your specific goals and wishes. These documents may include a last will and testament, trust, durable power of attorney, HIPAA authorization, designation of healthcare surrogate, or living will.
Although thinking about our own mortality can be uncomfortable, those who complete a custom estate plan feel a sense of relief knowing they, their loved ones, and their assets will be protected. By planning ahead, you can:
- Rest assured that the right financial and medical decisions will be made on your behalf if you ever lose the capacity to make decisions on your own;
- Guarantee that your family retains rights to important assets such as your real estate, vehicles, bank accounts, retirement funds, and life insurance policies once you are gone;
- Reduce the time and expenses of probate court, or avoid probate court altogether; and
- Potentially save considerable amounts of money for your family in the future by minimizing tax liabilities.
Simply stated, estate planning is smart planning. You owe it to yourself and loved ones to make the future easier and more predictable.
Contact us today to get started. We look forward to guiding you through this important process.