Estate planning does not only involve the documents, but also the quality of the inclusions in documents, the signature process and the implementation. The challenge of creating one of your life’s most important documents has its complete disadvantage. You might lose money, valuables and jeopardize your family and loved ones ‘well-being. Instead of making such a mess of your estate plans, you can contact an estate planning attorney for the required guide. Estate plan documents are legal documents and should be treated with authenticity, legality to avoid simple and yet costly mistakes. Most notably, these mistakes are usually encountered when you prepare estate plan document yourself.
Although several online resources appear to be available to quickly prepare a fast succession or estate plan and supply relevant documentation, the issue is whether such plans and documentation are accurate and acceptable. That phrase ‘do it yourself’ may not be considered a secure choice in the context of estate planning.
Estate document to consider.
Last Will and testament
LastWillandtestament a will based estate plan holds a detailed list of instructions as to how your property should be shared after you die. If you have minor children, it contains provision for appointing a guardian for your children.
Living Trust
Trust are essential when planning your estate. Through trust, you can have anyone whom you solely desire manage and make financial decisions over your assets both while you are alive or dead as well as when you become mentally incapacitated. Trust forms the bases of how your estates are shared or given to beneficiaries, what happens to you when you die and who makes certain financial or medical decisions for you when you are mentally incapable.
Advance medical directive
Through an advance medical directive also known as a medical power ofattorney, you get to designate a health agent to make medical decisions when you are unable to do so. This same document could be filed in court to should it be someone needs to be your guardian or conservator.
Financial power of attorney
Through this, you can protect your finances and assets through the financial power of attorney. This document allows you delegate to the person your choice the ability to manage your assets and make important decisions should you become mentally incapable. This document can be used in two form as a durable power of attorney and a springing power of attorney.
Our estate planning attorney handles one or more of the following for you.
- Preparing a Living Trust to avoid the probate process along with its hassles.
- Advising you on the best type of Trust to establish, such as an Irrevocable living Trust and revocable living trust.
- Preparing a valid Will according to the state laws.
- Help prevent guardianship for minors and those incapacitated. Through an advance medicaldirective also known as a medical power of attorney, you get to designate a health agent to make medical decisions when you are unable to do so.
- Preparing a valid legal power of attorney. You can protect your finances and assets through the financial power of attorney. This document allows you delegate to the person your choice the ability to manage your assets and make important decisions should you become mentally incapable.
- Distributing your estate to your beneficiaries in the manner you so wish.
- Drawing out the best and most suitable retirement plan.
- Build a healthcare plan that meets your needs and allow you to file an advance medical directive. You may appoint a healthcare representative or trustee to make medical decisions for you when you are mentally unable.
- Help you know when best to update your estate plan. (Your estate plan can always be adjusted so far you’re still alive.
Contact our Best Estate planning attorney Paramus New Jersey today.
An estate planning attorney is pivotal to making well informed decisions that would definitely result into making solid estate plans.
Planning with our estate attorney is the only way to ensure all appropriate formalities are with proper protocol. With this, you stand at better chances of achieving your goals of estate plans with its adequate execution. On the other hand, doing it yourself option may leave you and your loved ones to chances of revoked, invalid and void estate plan documents.
With the wellbeing of you and your loved ones at risk and safety of your assets in question, is preparing estate plans yourself worth the risk? Contact our estate planning attorney Paramus New Jersey today.