Providing for loved ones is a cardinal responsibility that many take on as they grow older. Whether it be children, siblings, spouses, or personal friends, what once may have only been reserved for the immediate family has expanded along with the definition of a family. For enduring care and love to be provided, ensuring your assets gained over a long life are distributed as you see fit is a consideration that is all but required in the modern era.
From powers of attorney to trusts and wills, entering the world of estate planning can be daunting. While there are endless resources online that promise quick and simple solutions, that is seldom the case. Since states and even counties hold such specific guidelines and regulations surrounding estate plans, even one misstep or inaccuracy can result in the unraveling of much of your work and potentially many of your hard-earned assets as well. To avoid this tragic possibility, a Top Estate Planning Attorney can ensure that all documentation is filed correctly the first time, as well as tailoring your estate plan to fit your unique circumstances.
While it is never too early to begin estate planning processes, it can, unfortunately, be too late. If an individual is unable to make decisions for themself or has succumbed to an unexpected tragedy, their ability to make decisions in their right mind may be revoked. In a case such as this, establishing powers of attorney is paramount. By establishing financial and medical power of attorney, you grant a trusted party close to you to make decisions on your behalf in the event you are unable to. These decisions include healthcare complications, critical financial decisions, and anything else that requires a sound mind.
For example, suppose an individual with no estate plan or established powers of attorney was unexpectedly incapacitated and kept alive at the hospital. If they cannot legally fulfill the obligations of a decision in sound mind or cannot understand what decision they may be signing for, it may be too late to ensure their estate is handled as they would have liked. Not only is this devastating for the individual affected, but it can leave family and loved ones in ruin. To help avoid this bleak prospect, hiring a Health Proxy Attorney can ensure everything is in place in case of a tragedy. In addition, a Power of Attorney Lawyer can safeguard the remainder of the assets and decisions.