Share the Love with Family this Valentine’s Day: Plan your Estate!
Do you have a will? How about a power of attorney or advance medical directive? If you have a retirement account, own your own home, or have children, you need an estate plan. If you have what you believe to be minimal assets, an estate plan is still in your best interests.
Anyone can become incapacitated and need someone to make medical decisions for them. You may die suddenly without any direction as to how your assets should be handled. The best thing to do for the ones you leave behind is to make things as easy on them as possible so they can focus on healing after you’re gone.
If something happens to the parents of minor children and the parents do not have a guardian named for their children, the courts will select the guardian. The decision to choose a guardian now will save your children the stress and pain of living with someone they don’t know very well.
Many young families think that since they do not have a lot of financial assets, estate planning is not for them. But, families do not need extensive assets to make estate planning valuable. A life insurance policy can provide the financial security your children need to become well-rounded adults.
An experienced estate planning lawyer can help you navigate through the life insurance policies to find the best one for you.
An estate plan will allow you to protect and preserve your assets after you’re gone. It will also allow you to name all of the people that you want to inherit your assets. Those people are called beneficiaries. It will also give you the opportunity to name the person that will carry out your wishes after you’re gone. This person is the executor.
From time to time we are contacted by people who want to save money by doing their estate planning online but run into real problems. They create a will, a power of attorney, even advance medical directives, only to realize that their documents are not executed properly. Or, if they were married before and realize that their estate plan excludes those children from an earlier marriage. Things can get complicated quickly. The last thing you want is for your estate to cause stress within your family after you’re gone.
Let us help you work through the complicated parts so that your estate plan not only reflects your goals but will correctly address all of your needs.
Kevin Miller is ready to assist you in creating a will, power of attorney, and medical directives so your affairs are taken care of in uncertain times. It is important that you make estate planning a priority regardless of your age or amount of assets. Kevin Miller has extensive experience in estate planning and will put your interests first. Contact us or call us at 405-443-5100 if you have questions. We are here to help.