Crystal River residents know that: the future may hold some unexpected events. The estate planning process can help give you peace of mind, knowing that your estate will be distributed in accordance with your wishes. You can also rest easy knowing that you can prevent your loved ones from having to make difficult decisions when you turn to an experienced estate planning lawyer to assist with these legal matters.
What is Estate Planning?
Crystal River residents often wonder about precisely what’s involved in the estate planning process. Your estate planning lawyer can help you with a range of different documents, including:
- writing a last will and testament;
- establishing a trust;
- writing a living will;
- appointing a health care surrogate; and
- Appointing financial and property power of attorney.
These are a few of the most common estate planning forms and documents. Many are tempted to utilize some of the generic estate planning documents that are found online, but it’s important to trust your case to an experienced estate planning attorney because any ambiguities or omissions can result in serious problems. In short, these documents — if prepared or executed improperly — can create more problems than they solve!
When writing a will, you will appoint a personal representative, in addition to naming guardians for any minor or disabled beneficiary and indicating how you wish to divide your estate. You can also indicate whom you would like to care for your pets and how the costs of care will be paid.
A trust may provide you with greater flexibility than a last will and testament. A trust may can go into effect while you’re still alive, which is not the case with a will.
Living wills and other advance directive documents go into effect when you are still alive, but incapacitated and unable to make decisions on your own behalf. In these cases, these vital estate planning documents can indicate what type of care you would like to receive (or not receive). This prevents your loved ones from being forced to make difficult decisions on your behalf, such as deciding whether to opt for life support such as a feeding tube or respirator.
A health care surrogate is person appointed to make other medical decisions on your behalf.
Power of attorney is another popular document used in estate planning. Crystal River residents can use power of attorney to appoint varying degrees of financial and property power to another party, from authorizing another party to finalize the sale of your house while you’re away on military deployment to giving a party the ability to make any and all financial and property decisions on your behalf.
It’s important to select a trusted attorney dealing in estate planning. Crystal River residents can then rest easy knowing that they are prepared for any eventuality.