Port Richey residents may turn to an estate planning law firm for help with a variety of different documents which, when completed properly, provide tremendous peace of mind since you know you’re prepared for whatever the future may hold.
When it comes to the process of estate planning, Port Richey natives may need to make some difficult decisions, but documenting these decisions in advance ensures that your interests are protected and your wishes are followed when it comes to your care, your family, your money and your estate.
What’s Involved in Estate Planning?
Port Richey estate planning attorneys can help you to prepare a variety of documents, such as a last will and testament, a trust, a living will, power of attorney forms and health care surrogate documents. It can be tempting to utilize some of the general estate planning forms that can be printed out online, but these documents are often incomplete and filled with ambiguities that can serve to create more problems than are solved.
In the case of writing a last will and testament, your Port Richey estate planning attorney will guide you through the process of selecting a personal representative, determining how you wish to divide your estate and naming guardians for your minor children and even pets.
Many estate planning attorneys recommend opting for a trust in addition to a last will and testament, as trusts allow you to enjoy much greater flexibility in a number of areas. Some trusts can be utilized while you’re still alive too, making them a versatile tool.
As the name implies, living wills go into effect while you are alive. They are a form of advance directive document and they are utilized for decisions regarding life support. For instance, your living will may indicate that you wish to remain on life support with a feeding tube, or it may specify against the use of these measures. This is an important type of document as it ensures that your wishes are known if the life support decision must be made. You can also relieve your loved ones of the burden of making those tough decisions on your behalf.
Power of attorney forms allow you to convey varying powers to another person, ranging from the ability to sell your car while you’re overseas, to giving another person full powers to make any financial or property decision that you are legally able to make. Health care surrogates work in this way as well, except they only apply to making medical decisions on your behalf. This makes surrogates a good tool for those who may be incapacitated and unable to make health care decisions for a temporary or permanent basis.
When working with an attorney who practices estate planning, Port Richey residents will gain peace of mind knowing their wishes are formally documented. Estate planning lawyers can also help you to update these documents in the event that you acquire new assets, move to a new state or experience significant changes in a relationship with someone who’s named in your estate planning documents.