The Estate Planning Essentials
One of the greatest services we can provide for our loved ones is the peace of mind that comes by carefully considering and creating an estate plan. There are a few documents that are absolutely essential to an estate plan, and knowing what they are and how they work is a great place to start in your estate planning journey. While it is tempting to adopt someone else’s plan by using online documents, it is better to consult with an experienced estate planning attorney to craft personalized documents that meet your unique needs.
Last Will and Testament
A Will enables you to specify who receives your assets upon your passing away. This is crucially important because without this document, the state controls the distribution of your assets. Beyond your material things, a Will also enables you to appoint guardians for your minor children. As with your assets, the absence of this document means the state gets to decide who has legal authority over your minor children.
Power of attorney
A Power of Attorney allows you to appoint a trusted person as an agent to make legal and financial decisions on your behalf when you are unavailable or in the event that you are no longer able to make these decisions on your own.
Advance Healthcare Directive
This document enables you to appoint a person to communicate medical decisions for you when you are unable to and chose, in advance, the types of medical treatments and care you want to receive as you approach the end of your life.
Living Trust
Transferring assets to a trust during your lifetime grants you control over your estate, avoids the cost and frustration of the probate court, allows the appointment of an alternate trustee who can manage assets within the trust in the event of your incapacity or passing away, and can protect your estate from predators.
These documents are essential tools for serving your family with a thoughtful estate plan. At Echols Law Group P.C., we have crafted hundreds of personalized estate plans and are prepared to assist you in creating a plan that accommodates your unique needs. To contact us or request a consultation, call our office at 770.506.9092 or use this link . If you would like to learn more about the essentials of estate planning, please join us for one of our free virtual estate planning workshops. We look forward to serving you and helping you find peace of mind.