Estate Planning
I approach estate planning with compassion and patience. It is a very personal and sometimes emotional process.
– Andrea P. Gray
“I don’t plan on dying anytime soon so why do I need a will”. This is the phrase I most often hear from friends and business associates when I ask if they have an estate plan. Many people think that if they don’t have millions of dollars of assets, there is no need for a will. The truth is that there is a lot more to estate planning than dividing up assets. If you don’t plan ahead, you may leave yourself, your spouse and your children in a difficult situation.
Estate planning is necessary and important to ensure your family is able to take care of you in the event of your mental incapacitation. A Healthcare Power of Attorney and Financial Power of Attorney allow a person you choose to carry out your wishes regarding end of life care, act on your behalf, and manage your business and assets if you are unable to do so yourself. These powers are only activated when you become mentally incapacitated.
If you and your spouse died today, who would raise your children? Preparation of a will is necessary to ensure that your wishes are carried out and your spouse and children are taken care of in the event of your death. Appointing a legal guardian for your children is by far the most important part of your will and the part that most people struggle to complete.