I cannot emphasize enough to my clients and friends that an Estate Plan is very important. It will protect your assets and your loved ones when you die. No one enjoys thinking about what happens after they die, but it is a part of living to prepare and plan for that time. You are not alone; millions of Americans every year put estate planning off – for another time – for next year. It is devastating, however, if next year does not come – at least for you.
Most people do not know where to start. That is where an experienced Estate Planning Attorney comes in. He or she will discuss what a living trust is, why you should have one, how it will save you or your family thousands of dollars in probate taxes and how the probate process works. Your attorney will also discuss how to go about providing for your minor children and how to choose a guardian for them.
These documents come into play when you die or if you no longer can act on your own behalf. Without the proper documentation, a court will decide what can or cannot be done on your behalf. Contact a skilled Estate Planning Attorney and plan for the future; make sure your requests are met after your death. Act now; do not wait until it is too late.
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\\ tags: assets, attorney, Estate Planning, family members, living wills, Probate taxes
A study showed that 1 in 4 elderly people would need an end-of-life decision made for them regarding medical care. The study indicates that those making their wishes known in a living will, which includes the name of the decision maker, usually got the treatment they requested.
At one time, the national debate on President Obama’s health care stated that Medicare could pay doctors to counsel patients about end-of-life issues. Critics against this policy called it “death panels”. The proposal was eventually dropped.
The study concluded that living wills and health proxies are “important tools for providing care in keeping with patients’ wishes.” The living states what kind of medical treatment a person wants or does not want if he or she becomes incapacitated (i.e. breathing machines, feeding tubes, CPR). A health care proxy names another person to make medical decisions if needed. Many people have both. The study can be read in the New England Journal of Medicine in April.
For more information, visit www.caringinfo.org/PlanningAhead.
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\\ tags: attorney, elderly, End-of-life, Estate Planning, health care proxy, living wills, medical care