My Financial Security Home > Estate Planning

Estate planning tends to be a subject most think is only for rich people or people that have charitable intent. While that is sometimes the case, basic estate planning is most simply deciding for yourself what you want to happen with your assets when you pass. A popular saying is if you don’t have an estate plan, then the government has one for you. It is important to understand that you and the government may have very different ideas about how to best allocate your assets.

So What Is An Estate Plan?
A proper and complete Estate Plan may include many documents, including:

• Health Care Directives, such as a Durable Power of Attorney, in the event you are ill or injured and unable to communicate your medical preferences or decisions. These allow you to assign someone you trust to work with your doctor, retrieve medical records, make decisions on your behalf, etc.

• A Living Will, so your specific preferences regarding long-term medical care and treatment are known.

• A Last Will and Testament, so your final wishes and decisions regarding your assets are properly prepared. Assigning a Durable Power of Attorney over Assets, and making provisions for dependent or special needs children are also covered.

• A Revocable Living Trust, which is often the most overlooked and yet most important piece of a complete Estate Plan. By creating a Trust, you will provide many benefits for your family, including the avoidance of putting them through the time, expense, and public spectacle of probate.

It all depends on your situation and your needs. Any of these documents and decisions alone are important, but only by considering all the situations and covering all the options is your plan complete.

Who Should Have One?
Anybody with children under the age of 18 needs to make estate planning a top priority. Even people without children or people whose children are grown should spend some time making sure that they have crafted their documents in a way that will make an unpleasant situation the best for the people left after them.

How to Start, And What If There Are Changes?
Start by speaking with a professional with experience in Estate Planning. Of course there will be changes to your plan along the way. The people you choose and name now may no longer be available, or you may prefer to include other individuals. This is very common and should not prevent you from making a plan today. Amendments and edits can always be added, and most proper plans will automatically include contingent choices from the very beginning. What’s most important is that you start now and don’t delay any longer.

We currently have Estate Planners and Estate Planning Attorneys available in: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington