What Can an Estate Plan Do For You?

 

Especially during this difficult year, many people are thinking about writing a will or creating a trust.  It’s a good instinct because estate plans are truly a gift for you and your loved ones, contributing to family harmony and peace of mind. But a few hurdles can stand in the way of completing this important work, such as uncertainty about which attorney to hire, how much it will cost, or concern that it will be a difficult, complicated process.  While estate plans definitely help maximize the preservation of assets and property for the next generation, it’s good to remember that an estate plan is about more than just money.  Even if you don’t feel like you're "rich," your estate plan serves many other purposes. A complete estate plan allows you to accomplish important goals, for example:   

1. Offering guidance to your loved ones during a difficult time. An estate plan will record your wishes in black and white, so that your family members aren’t left with too many challenging decisions, wondering whether they’re following your desires and questioning what you would have wanted.

2. Providing healthcare instructions in case you are incapacitated and unable to speak for yourself. If you are involved in an accident or experience a health crisis that renders you incapacitated, your estate plan will provide documents clearly outlining your wishes for your healthcare, and naming who is empowered to make decisions on your behalf.

3.  Allowing essential financial decisions to be made if you are out of the country or incapacitated. In addition to documents relating to your healthcare needs, your plan will contain a power of attorney authorizing the person of your choice to sign time-sensitive financial documents should you be unable to do so for any reason, whether you are in the hospital or on a Mediterranean cruise. 

4.  Most importantly, an estate plan provides instructions for the care of your minor children, giving you the peace of mind of knowing your children will be in hands you trust. 

My streamlined process and upfront fees make creating your estate plan easy and straightforward. Initial consultations are always free.  Contact me to start your estate planning with a simple conversation.