Many estate planning firms have seen an increase in clients due to the world reopening and people feeling comfortable meeting in person. Everyone, at some point in life, should plan for their wishes, family, and estate.
Now is the time to get your legal affairs in order. Peace of mind is worth the effort of having an attorney draft an individualized estate plan for you. A properly drafted estate planning for a homeowner almost always includes the following essential estate planning documents:
- Revocable Living Trust: Helps your estate avoid probate court, which can be a very time consuming
and lengthy process. You have the ability to make the choices that are most important like who is in charge, your beneficiaries, and more. - Pourover Will: A companion document that works with the trust to ensure your wishes are followed.
- Durable Power of Attorney: Specifies who you would want to make financial and property decisions for you if you are incapacitated, and dictates what powers that person has.
- Advance Healthcare Directive: Like a durable power of attorney, but for healthcare decisions. With this document, you can specify who you want to make health and med- ical decisions for you if incapacitated and what powers that person has. Are you dreading meeting with an estate planning attorney? Don’t. Most estate planning attorneys offer free initial consultations. Further, new clients simply need to bring simple information regarding the people involved with the estate plan (family, people in charge, and beneficiaries) and a list of assets. The last 16 months have shown us that there are no guarantees in life, which is why so many people are currently seeing the benefit of having the peace of mind given with a proper, personalized estate plan.
