A HOLIDAY CHECKLIST FOR ESTATE PLANNING
What is the need for estate planning? Estate planning is a way to ensure that your assets are secure and secluded. It also ensures that the planning you have done is in case you become ill or something bad happens, the property that you have amassed is handed over to your successors as you have wished for. The owner’s will should have clear instructions of the inheritance and will also clear any kind of confusion or expenses for the other family members after you are gone.
During the holidays, when you sit with everyone, you notice that there are so many things that need to be looked upon. Having a conversation with your family, you can get an idea of what they need and what are the pointers that you should note down while getting the estate planning done. There are many things that need to be looked for.
As parents, a time comes when they can’t take care of their business. Due to age, it becomes a struggling factor because of which it becomes difficult to keep a check on their accounts. This time the option is that parents have to name someone and give them the power of attorney so that the business keeps on going smoothly. If there are chances that you have signed the power of attorney beforehand then it is always a good chance to give it a second look and note if you are still on the list and you are serving the right one.
Time can change many things and one of them is the ability to make your own medical decisions. Sometimes it becomes difficult for the parents to choose the right medical treatment for themselves. A “Living Will” is an advance directive that describes your treatment wishes if you are not expected to recover and it is not possible to communicate your wishes. Giving the power of attorney, the person will be able to communicate with the doctor. This will relieve the family stress and will become easier to communicate with the doctor.
It is important to discuss estate planning because you never know what you will have in the future. Being communicable about estate planning and supportive about every decision is also important so that you can go past the hurdles. This is all about bringing everyone on the same page and ensuring long term goals of planning and honoring everyone’s decision.
Having a WILL is always a plus point as it is the way that you can help your children from fighting and misunderstanding. If no related documents are present then the law of the state will decide the inheritance of your property. Anne Hydorn can help you with this as she is the best estate planning attorney in Brentwood. She can lay out the plan for you and can make things simple to understand. She is also an Elder lawattorney and helps the elders and aging people so that they can avail of long-term benefits. She has a unique planning process that will focus on the future goal, you and your family priorities, your wishes and concerns and so that you don’t have to worry about your family’s inheritance.