Estate planning is one of those items you want to have completed and available, but not necessarily have to use, at least not for a very long time. As it is used at the end-of-life, it’s not the most relished of topics of conversation or thought, however it is very important nonetheless. The first step in your estate planning is to START. Some people haven’t even thought of estate planning, while others have thought about it, but haven’t implemented the process. The first step is to contact an estate planning attorney to get the ball rolling.
When preparing to draft your estate planning documents such as your power of attorney and will, you need to think about who to appoint as your attorney-in-fact, executor, etc. Many people automatically think of a relative or close friend to handle their affairs, but they don’t always take into consideration the character of such person and their ability to handle a role as significant as executing your will or acting on your behalf in another manner. Carefully consider the role the person will be taking, as well as their power in their role, to make sure you are picking the right person for the job.
Now, if you have been diligent in putting your affairs in order, but have done so years ago, have you thought about if it is all up to date? Do you still want the same person as the executor of your will, or the same person as your personal representative in your health care directive? Having your estate planning documents in order is a start, but making sure they are up to date and current with your wishes is just as important.
If you haven’t begun your estate planning, or haven’t reviewed or updated your documents in years, give us a call to discuss your options and wishes. Completing your estate planning will put your affairs in order, protect your assets, and provide for your loved ones.