Everyone should consult with an estate planning lawyer.
Many people mistakenly feel that estate planning is only for the wealthy or the elderly. In reality, nothing could be further from the truth. It is critical to contact with estate planning experts, whether you are young or old, to ensure that your affairs are in order in the event that something goes wrong.Have a look at Raleigh Estate Planning Attorney for more info on this.
Making a will is what most people think of when they think of estate planning. Of course, planning attorneys can assist in the development of a valid will that will stand up in court and avoid your heirs from fighting over your assets and possessions when you pass away. Estate attorneys, on the other hand, offer much more than simply assist you in drafting a will.
Estate planning experts can offer comprehensive solutions to assist you safeguard your assets and fortune from being lost if you become ill or incompetent, as well as from hefty estate taxes. Estate planning experts can assist you in this by assisting you in establishing trusts to secure your assets or assisting you in making proper long-term care insurance plans.
Estate planning attorneys may also ensure that you are cared for in the event of your death, so you are not reliant on family members to act on your behalf during their mourning. The following are some of the things that estate planning attorneys can perform that you may not be aware of:
assisting you in establishing a durable power of attorney
If you are ever unable to speak for yourself, access your bank accounts, or manage your own money, you will require the assistance of a trustworthy individual. If you don’t name a power of attorney, your family may not be able to access your bank accounts or make decisions on your behalf unless you acquire a court order for them to do so. Don’t put your family through this, and don’t leave your affairs in the hands of a stranger. Make a power of attorney so that someone you trust will look after you when you are unable to.
assisting you in creating a living will
One of the most significant services provided by an estate attorney is the creation of a living will. A living will is a legal document that spells out what will happen if you have a medical emergency and require life-saving treatment. You can designate what extreme measures, if any, you want employed to help save or extend your life in your living will. You need a living will if you don’t want to put your family in the position of having to “pull the plug,” or if you want to ensure that you have control over your death and keep your dignity.
Assisting with the care of your children and pets
While wills and trusts are primarily used to determine who will inherit your possessions after your death, you will also need to declare who will be the guardian of your children and who will care for your pets. Estate planning experts can assist you in ensuring that these critical issues are addressed.