Estates Planning

Your estate is the property you own when you pass away. Having a plan put in place will ensure that this property is distributed according to your wishes once you are gone. Estate planning is one of the most important steps you can take to protect your property and your family.

Estate planning typically consists of a Will, a Durable Power of Attorney, a Medical Power of Attorney, a Health Information Release, a Declaration of Guardian of Minor Children (if you have children), and a Directive to Physicians.

Making a road map now for your loved ones to follow is a priceless gift. It will save your loved one’s time, money, and a lot of grief having your estate laid out.

Things to consider when drawing up your will:

• Choose an executor.
  • It is good to have discussions now of what your wishes are with your executor so that any questions or concerns either of you have can be handled now, while you are still here.
  • Pick someone who is in reasonably good health, is local or can be
    local if needed and who is able and willing to be the executor.
• Make a list.
  • Make sure you list all your valuable assets, investments, life insurance policies, property, and anything else you feel is important.
  • Make sure you have a list of all your usernames and passwords to your accounts so that your Executor can easily close things out after your death.
  • Make sure this list is where it can be easily found, like with your Will.
• Make your intentions very clear.
  • Lay out how you want your estate to be divided. Be as specific as possible when drafting your Will on who gets what and how much of something a person should receive after you have passed.
• Address any funeral arrangements
  • This can be a traumatic experience for a loved one, the more instructions you leave, the easier it will be for everyone to process the grief of losing you and attending to the funeral arrangements.
  • Explain what flower arrangements you want, where you want the funeral, or if you do not want a funeral.
  • Explain how the expenses are to be paid.

Another big piece to estate planning is the Directive to Physicians.

This is commonly known as a “living will.” This document communicates your wishes concerning end-of-life treatment directly to your physicians. This document
allows you to state if you want lifesaving treatment or to be let go if you are suffering from a terminal or irreversible condition.

Having this in place will help your loved ones respect your wishes and desires. It will also help them as they are grieving over the medical conditions you are in.

Taking the uncertainty out of your last wishes and providing a path for your family to work together is the best gift for family harmony you can give. Your life is not a “one size fits all” template. Contact the Denis Law Group today to schedule your consultation.