Estate Planning
Estate Planning
"Estate Planning is an important and everlasting gift you can give your family, and setting up a smooth inheritance isn't as hard as you might think."
- Suze Orman
One of the most unsettling things to worry about is, “What’s next if something happens to me or my loved one?” It is important to stay prepared for any outcome, especially death or becoming disabled. Set up your estate plan with the proper advance directives so that your desires are followed in the event you cannot make decisions for yourself.
Who would handle all your affairs, if something unfortunate happened to you like a car wreck? Who would be your children's legal guardian if you passed away today? If you passed away tomorrow, who would manage your business? These are all very important question to consider when developing your estate plan.
It’s important to know that the decision-making for you and/or your business, children, and the power to manage finances does not automatically gets inherited by your next-of-kin. Managing your finances can include withdrawals, bill payments, paying taxes, maintaining a business and selling a home or vehicle. Without the proper documentation, bills can be left unpaid and begin to pile up which almost always has a negative effect on your personal life or your business.
This is why Estate Planning is so important. These documents give the person you appoint as your agent the authority to handle all finances and make decisions in the event that you cannot make them yourself. Estate Planning isn’t just about financial decision making. It also includes medical situations. For example, deciding whether to resuscitate you or not, is a decision that should be made solely by you and not your doctors. You also do not want family members having to decide what's best for you while emotions are high, especially if they may decide against your wishes and desires.
Here at Legal Legacy Advisors, we believe that you only have one life, and it belongs to you. By failing to prepare, you are preparing to fail. Therefore, you should have the final word on everything regarding your Legacy. For more information on the various estate planning documents and advance directives, call us today to schedule a confidential consultation.
