Estate planning is not simply an exercise for the elderly, but a prudent step for any adult. It is a
valuable gift you can leave your family, which, with your proper planning, will be spared the expense and distress often associated with administering an intestate estate.
This is the most basic document in your estate plan. It provides for disposition of assets at death and appoints an executor to administer the estate. A will’s advantage is orderly estate administration. Additional benefits include nominating guardians for minor children, leaving funds for education, providing for the care of pets, and ensuring the continued operation or disposition of a business. Consultation with your Clearwater estate law attorney can help you ensure your will addresses issues significant to your family.
Health Care Directive
Your health care directive identifies an agent enabled to make care decisions for you if you cannot. This document can provide for your wishes relative to organ donation or life support. Making your wishes known in advance can avoid contentious future litigation, and can give your loved ones the comfort of knowing they are following your wishes.
Power of Attorney
Your Clearwater estate law attorney can assist you in drafting a power of attorney nominating an agent who will be able to handle your affairs if you are unable to do so. In the event of your incapacity, bills still need to be paid, your investments need to be managed, and your family cared for. Your agent under power of attorney will have the authority to act on your behalf if you cannot to ensure your obligations are being met.
You can establish a living trust after consultation with your Clearwater estate law attorney that will provide substantially the same benefits as a will, and offer you significant additional benefits as well. Like a will, your trust can provide for disposition of assets at your death to ensure your family, pets, business, and other interests are provided for. Unlike a will, though, your living trust can avoid the necessity of probating your estate.
Contact A Clearwater Estate Law Attorney
Call a Clearwater estate law attorney at the Coleman Law Firm, 866.461.7474, to discuss establishing an estate plan to benefit your family.