August 15, 2016 | Advance Care Planning
Do you have a written plan in place to handle your affairs in case something happens to you? Even if you are enjoying your good health now, unexpected things can happen. It is important to put in writing your preferences and wishes related to your health and finances.
Create Peace of Mind
It is essential that you take a proactive approach to so you can be prepared for the future. It’s never too early to start working on these plans. As soon as your plan is finished, then you can relax without worrying about the stress and contention that might occur in the family because of a lack of planning on your part.
Putting Together the Right Estate Plan
Where should you start with the process of putting together an estate plan? The best thing that you can do is work with an experienced estate planning attorney who can evaluate your needs and preferences and design an estate plan that is accurate and personalized. These are a few things that might be considered for your plan:
- Will: A document that shares details about your final wishes for your finances and estate. Typically, this document will name an executor and list details related to your property, debts, children, pets and more.
- Trust: An arrangement that allows a third party, known as the trustee, to manage and hold assets. Details are put in place to specify how the assets should be handed to the beneficiaries.
- DPOA: Durable Power of Attorney (DPOA) is a document that authorizes another person to act on your behalf. A financial power of attorney can pay your bills, manage your property, oversee the execution of your estate, and more according to the restrictions that are set in the document. You should also appoint someone to make healthcare decisions for you in the event you are unable to do so.
Work with the Right Team
Mistakes made in the estate planning process can lead to significant problems later. It is important that you work with a qualified, experienced legal professional. At Windward Life Care, we assist older adults and their families in the process of finding resources to support them in the later years of life. Contact us today to learn more about the continuum of services that are offered.