As an attorney at Cohen Pollock Merlin Turner, I've had the opportunity to work with many clients on estate planning, including family-owned businesses, fiduciary litigation, and probate.
In this article, I'd like to discuss the basics of estate planning and how it's all about your goals.
1) Estate Planning is About Your Goals
Estate planning is about figuring out what you want to happen to the people and things you care about when you're no longer able to make those decisions yourself.
It's important to focus on your goals, rather than getting bogged down in the details and specifics of what should be included in a will or trust.
2) The Importance of a Will
A will is a legal document that outlines your wishes for how your assets should be distributed after you pass away.
It's important to have a will in place to ensure that your assets go to the right people and to avoid disputes or legal challenges.
A will can provide guidance for your loved ones on important matters such as guardianship for any minor children.
3) Powers of Attorney
Powers of Attorney are legal documents that appoint a trusted person to make decisions on your behalf in the event that you become incapacitated or are otherwise unable to make decisions for yourself.
These can be an important safeguard for you and your loved ones, ensuring that your affairs are taken care of even if you're not able to do so yourself.
4) Reviewing Your Estate Plan
It's important to review your estate plan periodically to make sure that it still reflects your goals and wishes.
If you have a family business or other unique circumstances, it's especially important to work with an experienced attorney who can help you navigate the complexities of estate planning and create a plan that's tailored to your specific needs.
Conclusion
Estate planning can be a difficult and uncomfortable process, but it's essential to ensure that your wishes are carried out as you intend. By focusing on your goals and working with an experienced attorney, you can create an estate plan that provides guidance and support for your family and loved ones when you're no longer able to do so yourself.
Don't put off estate planning – start the process today and give yourself the peace of mind that comes with knowing that you've taken care of the people and things you care about most.
Learn more about Estate Planning with Kayla here.
Contact our estate planning attorneys for your probate, trust, and estate filings, and let us give you the support and help you need.