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Estate planning is more than just a will

On Behalf of | Oct 30, 2018 | Estate Planning, Firm News

It’s easy to think that estate planning is as simple as having a will and maybe putting a big asset into a trust for the future. Even this may seem complicated to some minimalist estate planners. But there are many considerations that people with the most modest of bequests should have in their minds while planning the fate of assets after death.

The end of life may come with a time that a person is not able to look after their own affairs. Many wills are accompanied by a durable power of attorney, which designates a person to act on someone’s behalf in the case he or she cannot.

A health care power of attorney is a related but different form. This may designate the same or different person to make medical decisions for a person while they are incapacitated.

People with minor children may also want to give themselves peace of mind by designating legal guardians for children until they reach the age of consent. This can clear up possible confusion at a time when a family may already be dealing with hardship.

For details beyond a will, such as desired funeral arrangements of the disposition of specific items, a letter of intent left with a lawyer can serve as a useful guide to probate court or the executor of a will or estate.

An attorney can be a good advisor during these detailed estate planning steps and creation of required documents. An attorney can catch important money-saving details and see the whole process for a first-time estate planner looking to make the best future possible for inheritors. If you are interested in putting your customized estate planning documents together, contact the Quinn Law Firm at 814-806-2518.

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