Here at Bennett Guthrie Attorneys at Law PLLC, we want to help you do what’s best for your family, and that includes making sure that they will be provided for after your passing. Our team has extensive experience in estate planning, and we are happy to guide you through the process and ensure that all your affairs are in order. Even if you are young and in good health, it’s still a good idea to begin thinking about these matters as the future is never guaranteed. In this article, our team will go over three key things you should consider during the estate planning process.
- Distribution of Assets. One of the key steps in estate planning is making a will, which provides instructions for how your assets should be distributed after your death. While some think that wills are something only rich people have, this is not at all true, and you should make a will even if your assets are relatively modest. This document will ensure that your money and property go to the right people.
- Health Care Power of Attorney (HCPA). Another part of estate planning is designating a health care power of attorney, or granting someone you trust the legal power to make medical decisions on your behalf if you become unable to do so. While everyone wants to believe they will reach old age in full possession of their faculties, this is far from certain, and you should take steps to ensure that your wishes will be known and carried out no matter what.
- Guardianship Designation. If you are a parent, a third key thing to consider during the estate planning process is who will care for your children in the event of your death. Although no one likes to think about this possibility, it’s important to make sure that your kids will be cared for by someone you trust to do right by them. If you don’t designate a guardian, the courts will decide this matter, and it’s possible that your children will go to a family member you would not have chosen for them.