Most people know that the will is the center of a solid estate plan – but not the only part. Are many other steps you should take to ensure that your family is taken care of after your passing?
Failure to do so could put your inheritance in jeopardy and leaving a major mess for those you leave behind. With that in mind, here's what you can expect from estate planning services. You can also get legal help for estate planning & power of attorney at HGR Graham Partners.
It may not be able to convey your memories, but the setting is well thought-out-able to reflect the expectations and values. Although the overall objective is to take care of your family after you are gone, there are other, more specific goals estate planning law firm can help you achieve, including:
-Minimizing confusion and delay settlement of your estate
-Help your heirs to avoid paying more than they owe tax on legacy assets
-Managing your legal and financial affairs should you become disabled or incapacitated
-Guarding your assets against the rising cost of long-term medical care
-Make sure your wishes followed with regard to medical and care decisions should you cannot make decisions for yourself
-Provide for your loved ones according to your wishes after your death
-Overseeing charitable donations
-Working with the executor to manage the distribution of your assets
One of the most common mistakes people make is the failure to make short-term arrangements. Death seems like something that would happen in a few decades. Thus, some people are not prepared when an unexpected accident results in disability or death.
That is why the estate attorney should always consider both short and long term choices. They may suggest buying life and long-term care insurance.