Estate planning is imperative if you want to ensure that your loved ones will be protected and provided for. Creating an estate plan can help you to exercise control over how your estate is managed upon your passing, which may include distributing your assets to a spouse or romantic partner, children, other extended family members, or a charity of your choosing. By seeking the guidance of an attorney in preparing your estate plan, you can discuss and analyze the various options that are available to you and confidently tailor your particular estate plan to fit your unique needs. Having an estate plan in place benefits your family members and loved ones as it ensures a smooth process for them which is clearly outlined and easy to navigate. End-of-life planning can help to substantially reduce the likelihood of intrafamily conflict in the future.
You can also help your loved ones avoid the expense and complexity of going through the probate process depending on how your estate plan is structured. There are several options for wills and trusts that you will want to consider when determining which estate planning method best fits your specific goals. There are also accompanying documents, such as the living will and powers of attorney, which provide instructions for your representatives and beneficiaries regarding your own health, end of life care, and management of finances in the event of any future mental or physical incapacity.For more information regarding estate planning, contact Polidori Franklin Monahan & Beattie, LLC to schedule a consultation with a knowledgeable attorney.