Estate Planning Essentials You’ll FALL For
It’s official; fall is here. The crispness in the air will soon become sweater weather and lead to gathering with loved ones and all things cozy. But, OH MY GOURD, before you don your flannels, jump in a pile of leaves, or order that pumpkin spice latte, please be sure to create the estate plan you’ve been putting off. While wildly underrated, estate planning with the right attorney can be bushels of fun, and more importantly, it will bring you peace of mind that lasts well beyond the golden foliage.
Let’s begin with the essentials.
- You need a will. Everyone needs a will. Why, you ask? Not only does a will distribute your assets according to your wishes, but it is also the single legal document that appoints a guardian for [your] minor children. If you’ve been slacking on this, it’s time to do it for the kids.
- You need an advance directive. This legal document of monumental importance, particularly during a global pandemic, spells out your medical wishes. With an advance directive, you avoid confusion for family and plan for end-of-life care. This document guides your healthcare if you become unable to communicate your wishes.
- You need a power of attorney. A power of attorney gives a person of your choosing the ability to act on your behalf with respect to your assets in the event that you are unable to do so. Often, a POA comes into effect when someone is incapacitated.
A simple yet comprehensive estate plan should include a will, an advance directive, and a power of attorney. There are, of course, other legal documents that can and perhaps should be in your estate planning portfolio, but here we simply highlight the essentials. It is our job to listen to our clients, assess their needs, and to educate them as to what type of estate plan would be the best fit based on their circumstances. If you really want to “love fall most of all,” we suggest you kick off the season by giving us a call.