Why Everyone Needs Estate Planning, Not Just The Rich And Famous
Brandon estate planning lawyers guide their clients through the complicated estate planning process
Let us start off the discussion of estate planning by saying that estate planning is for everyone. Often times, people think that only the rich and famous need to plan ahead. But, if you want your favorite nephew to have your stamp collection or your niece to receive your mother’s wedding band, you need an estate plan. Sure, we all like to think that our beneficiaries will follow our verbal wishes and handle everything fairly, in reality, following the death of a loved one, people often act in ways contrary to their usual behavior out of shock and grief. An estate planning attorney in Brandon will help you prepare a well thought out estate plan to be sure that your wishes are followed.
Depending on your specific situation, there are multiple instruments that attorneys draft to include your assets and specific wishes. Most commonly, a will is prepared naming the party legally responsible for carrying out the wishes of the deceased. The will contains information on how assets are to be distributed – in simple terms, who gets what. No matter how much or how little you have, an estate planning attorney in Brandon can prepare a will that spells out your wishes.
Other documents that an estate planning attorney in Brandon will offer to you during the preparation of a will involve your wishes should you become unable to express them for yourself while still living. They include a living will, a designation of health care surrogate, do not resuscitate order, and durable power of attorney. A living will expresses your wishes for end of life care. A designation of health care surrogate allows you to name someone to make health care decisions for you if you are unable to make them yourself. A do not resuscitate order indicates that you do not want to be resuscitated by medical personnel. A durable power of attorney allows someone you name to sign documents on your behalf.
Estate planning can also include trusts to allow assets to transfer without the need for a probate estate. While everyone needs a will, a trust will not benefit everyone in every situation. An estate planning attorney in Brandon will review your specific situation and give advice as to whether or not a trust would be of benefit.
Even though estate planning might seem daunting, take the time to get it completed. At Westchase Law, our attorneys will discuss your individual situation and prepare the estate plan that meets your individual needs.