A Broward-Palm Beach-Dade TriCounty FL Estate Planning Lawyer would like to share some estate planning essentials that are crucial for protecting your family. None of us like to think about the inevitable, but if you don't leave your financial affairs sorted out, your loved ones will inherit a huge headache, and perhaps a financial burden. You don't want your family to be forced into making critical decisions concerning your estate when they are grieving, or have no clue if what they're doing matches your plans. If you have the basics covered in advance, you can ensure that the correct people will inherit.
A local provider delivers a service which is designed to help with advance planning. Early planning is very important to help you to avoid navigating these difficult decisions when you are grieving. It can also help to eliminate a financial burden down the road.
This local service can help you to make sure all the bases are covered. For example a will is very important. Included in this should be a named guardian if you have any children who are minors. You should also name an executor for the estate. You may opt for a minor's trust that is able to safe guard assets until children become majors.
Another important element is power of attorney, assigning an individual to write check on your behalf if you are not able to do so. You can also choose a medical power of attorney which allows a person you assign to make crucial decisions on your health care.
Another important element is an advance directive. This allows you to make a statement on all end of life preferences. This includes whether a respirator or feeding tube will be used. Details under this provision include do not resuscitate wishes and medical power of attorney. You should also update all beneficiaries and make sure that your life insurance is sufficient.
Keep insurance policies, tax returns, mortgage papers, Medicare cards, etc. In one place. Finally, keep the original will with your lawyer, not in a safe deposit box. The choice of a lawyer is an important decision and should not be based solely upon advertisement.
A local provider delivers a service which is designed to help with advance planning. Early planning is very important to help you to avoid navigating these difficult decisions when you are grieving. It can also help to eliminate a financial burden down the road.
This local service can help you to make sure all the bases are covered. For example a will is very important. Included in this should be a named guardian if you have any children who are minors. You should also name an executor for the estate. You may opt for a minor's trust that is able to safe guard assets until children become majors.
Another important element is power of attorney, assigning an individual to write check on your behalf if you are not able to do so. You can also choose a medical power of attorney which allows a person you assign to make crucial decisions on your health care.
Another important element is an advance directive. This allows you to make a statement on all end of life preferences. This includes whether a respirator or feeding tube will be used. Details under this provision include do not resuscitate wishes and medical power of attorney. You should also update all beneficiaries and make sure that your life insurance is sufficient.
Keep insurance policies, tax returns, mortgage papers, Medicare cards, etc. In one place. Finally, keep the original will with your lawyer, not in a safe deposit box. The choice of a lawyer is an important decision and should not be based solely upon advertisement.
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