Everyone should have an estate plan of some variety in place. However, your estate plan depends on items like your finances, desires, and your needs. What your estate.
If you need help creating your estate plan, follow these five helpful tips:
Have Control Over Your Property
Whether your legacy is big or small, you have the right to decide how it should be handled after you are gone. If you are without an estate plan, you are allowing the state to decide what happens to your property and essentially your legacy. With an estate plan in place, you know that your loved ones or your favorite charities are getting what you intended.
Plan For The Unexpected
A great way to plan for the unexpected loss of life or a sudden illness is having an estate plan in place. This estate plan gives you the peace of mind knowing that those you have chosen will care for your children and your assets will be used for their benefit.
Save Your Family From Paying Probate Costs
When your estate goes through probate, some of the inheritance that you have set aside for your loved ones goes into paying for court fees, administrative fees and attorney fees alike.
Some estate plans avoid the probate costs by setting up a trust. Trusts do not go through probate court and therefore has no probate costs. With a proper estate plan, more of your money stays with your loved ones and does not go to paying unnecessary fees.
A Plan For Physical Or Mental Incapacity
An estate plan covers so much more than the future of your money. An estate plan can also plan for your future if you were to become physically incapacitated due to an illness or accident.
This part of your estate plan would include a document that is known as a power of attorney. This makes it possible for you to appoint a loved one or someone close to you to make important (sometimes life or death) decisions for you if you were unable to do so for yourself. Additionally, your estate plan is also able to set up a conservatorship to take care of you if you should become mentally incapacitated for a long period of time.
A Guide For Your Loved Ones After You Are Gone
Your family is at its most vulnerable after your passing. An estate plan provides specific instructions where everything that you own is itemized, and all your wishes are laid out.
Your estate plan takes out the decision-making; guesswork and hunting for documents out of the equation, and saves your loved ones a lot of frustration and confusion.
Get Started Today
When in need of a compassionate estate planning lawyer, Vancouver, Washington residents know they can turn to us for real results. Our honest and friendly staff works diligently to deliver great results every time.
Please give us a call at 360-695-8886 to schedule your free consultation today, or to learn more about our services. We also have staff that speaks fluent Japanese or Spanish.