What Exactly IS An Estate Plan?
by Peter McFarland, J.D., LL.M
As an attorney with years of experience in estate planning, I’ve found that many prospective clients aren’t actually sure what an estate plan is, let alone how important it is, should you become disabled or pass away. They may know what a will is, but they get confused when I mention that we need a full estate plan.
An estate plan is a comprehensive approach to what happens in the unfortunate circumstance that one becomes disabled or passes away. It covers a number of different situations and will take into account several variables to ensure that your wishes are upheld.
For starters, a good estate plan would include:
· A will
· A durable general power of attorney
· A durable medical power of attorney
· HIPAA authorizations
· And possibly a living will
If you have children, you might also include:
· A trust or a contingent trust
· A guardian designation.
A strong estate plan is going to take into account several different scenarios and situations.
One document simply cannot control for every situation, so we want to be sure to draft a solid, comprehensive estate plan for every client, so we’re sure you are well taken care of.
To set up or revise your estate plan, or to schedule a consultation to get your questions answered, please contact us. I’d love to help guide you through the details and make the best choice for your unique situation and peace of mind. Thanks so much for joining me!