Some people think of estate plans as something that only rich people need, but this is not true at all. Everyone can benefit from having an estate plan. If you want to have any control over your assets and which of your loved ones inherit your belongings, you need to meet with a Rockland County estate planning attorney. We’re ready to help you make a plan of your own.
Can Anyone Benefit From Having an Estate Plan?
One big benefit of having an estate plan is that it can help you avoid or minimize the hassle associated with the probate process. When someone passes away, this is how the court decides how to pass down their assets.
It costs time and money, and at the end the court could decide to leave everything with someone who you would not have made a beneficiary. Even if this is a person you would want to leave assets to, you may have wanted to split other belongings up among other friends and family members. When you make an estate plan, you have control over this.
What Are Some Important Parts of an Estate Plan?
An estate plan does not just determine where your assets go. It can also contain provisions about:
Power of attorney: If you are incapacitated, giving someone power of attorney allows them to make legal decisions for you. A healthcare power of attorney allows someone to make your medical decisions.
Living will: You can tell your family how you would want to be treated if you get sick and cannot voice your wishes. Sometimes families fight over treatment methods and have to go to court when a loved one has medical needs. Writing a living will and choosing someone to have a healthcare power of attorney can make these fights less likely.
Guardianship: If you have minor children, choosing guardians for them can be part of your estate plan.
Do I Need an Estate Planning Lawyer?
Even if you don’t have a big estate, it can be helpful to hire a lawyer to help with your plan. An attorney from our firm can make sure that every document drafted is legally binding so that there won’t be any issues or surprises for your family later. We can also help you figure out which estate planning tools, like trusts or family LLCs, work best for you.
Of course, we’re also here for you when you need to make any updates. It’s a good idea to look over your plan every year or so. Editing it after major life events, like deaths, births, or divorces, can also be a good plan.
Talk to Our Legal Team
When you are ready to make an estate plan of your own, you don’t have to go it alone. Instead, contact The Lauterbach Law Firm and ask to schedule a consultation. Our seasoned attorneys can help you figure out the best ways to protect your assets and leave something behind for your loved ones.
