Nearly everyone over the age of 18 needs to have in place at least four basic estate planning documents:
Medical Power of Attorney
Financial Power of Attorney
Depending on one’s particular circumstances, often additional estate planning instruments such as trusts and deeds may be recommended in order to accomplish one’s estate planning goals.
It is best to have an experienced, licensed lawyer who is familiar with the laws of the state in which you live, review your prior estate planning documents to ensure that they comply with the laws in your current state of residence and/or to ensure that they are up to date. If you are doing estate planning for the first time, it is important that you meet with an attorney who can review your situation with you, answer your questions, and provide a custom drafted estate plan for you to make sure that your estate planning goals can be properly met. Additionally, by using an attorney you trust, if you should have any changes to your estate plan in the future, the attorney can do so quickly and easily without having to redraft all of your estate planning documents.
The benefit of having an estate plan is that it allows you to:
- Plan for your and your family’s future;
- Make your wishes known regarding how you want your assets distributed;
- Make your wishes known regarding end-of-life circumstances;
- Direct who you want to manage your medical affairs should you become incapacitated;
- Direct who you want to manage your financial affairs should you become incapacitated;
- Direct who you want to be appointed as your guardian and/or conservator should one be necessary;
- Direct who you want to care for your minor children if something should happen to you and/or your spouse;
- Direct who you want to manage your assets on behalf of your minor children should something happen to you and/or your spouse; and
- Direct how you wish for your last remains to be handled (ie. Burial versus cremation, and what type of memorial funeral or ceremony you want).
Golombek Law, LLC has a personalized approach to providing clients with customized estate plans prepared in a quick and affordable manner utilizing reasonable flat rates for your individual estate planning needs.