What You Need to Know About Estate Planning

When you hear about estate planning, do you feel overwhelmed, disconnected, or uninterested? You are not alone. Unfortunately, many adults do not have an estate plan that is comprehensive and an unexpected death can leave family members scrambling or feeling frustrated. If you have ever wondered if you need an estate plan, or if your current estate plan could use an update, here is a quick summary of what you need to know about the process.

You are never too young for a comprehensive estate plan.
Most adults believe they are too young to even think about drawing up estate planning documents. However, adults are never too young to begin the estate planning process. While your estate plan will look different in your 30s than in your 70s, those documents are still vital to your family members, should you become incapacitated or pass away.

You can always adjust and update your estate planning documents.
Once you develop your estate plan, you aren’t locked in for life. Regular visits to your estate planning attorney are important in order to adjust your plan with your life’s many changes. You will want to add a guardianship designee once you become a parent, or you will want to draw up a Trust for your family business as you reach retirement. In any case, your attorney can help you decide how your documents will change based on your age and life stage.

Your Power of Attorney Agent designations are important.
Part of a comprehensive estate plan includes more than just a Will. Your Power of Attorney documents, both for healthcare and financial purposes, name an Agent who will make those decisions for you when you no longer can. Naming an Agent is an important task, and your attorney can help you have the conversation with the Agent of your choosing so that you can be sure that person is on the same page with your personal wishes.

Estate planning doesn’t have to feel morose.
Making an estate plan is a responsible decision that gives you control over distributing your assets when you die, as well as retaining control of your quality of life wishes with appointing Power of Attorney Agents. Instead of looking at these choices as morbid, look at it instead with a feeling of control and responsibility. The more decisions you are able to make now, the less your family will need to make in a crisis situation.

Don’t do estate planning with documents online.
While you can do a quick internet search to find Will documents online, you should not choose to make Google your estate planning resource. Instead, work with an attorney who has experience in estate planning and who can guide you through the next decades of your life. At Gandhi Selim Law,we offer the experience and the compassion for all our clients, making us an ideal match for your complex (or simple) estate planning needs.

Give us a call to set up your free consultation. We can spend our time together talking about your estate planning needs and goals, working towards your best options. We look forward to working with you!