Do I really need a Will? What about a trust? What’s power of attorney and why would I want to grant that to someone? These basic questions about the need and value of estate planning are common. The preparation of a will, powers of attorney over health care decisions and financial decisions and a health care directive is absolutely essential for everyone, no matter their income or wealth status.
In short, these documents and this type of planning can be boiled down to taking care of those around you. In varying fashion, each of these documents helps make life easier, smoother and less expensive for your loved ones in the event of your death, diminished capacity or similar circumstances. Proper estate planning provides answers (and clear directions) to questions such as: Who will handle my legal and financial matters if I become incapacitated? Who will make medical decisions for me if I cannot? Within what parameters? What happens to my property when I die? Who gets my money, property and personal affects? Who administratively handles my property and how? The questions that are addressed by estate planning could go on for pages and pages. In the end, estate planning matters and when done properly, ought to be straightforward and affordable while squarely addressing your unique personal and family circumstances.