Juggling modern families, demanding careers, shifting politics, doctors’ appointments, insurance paperwork and copays, and everything society throws at us is already a full-time job.
Yet, as life unfolds, having a well-structured estate plan becomes crucial – it can serve as a roadmap for your loved ones, ensuring that your wishes are honored and your family is cared for.
Securing a power of attorney for your aging parents ensures that their financial and healthcare decisions are managed according to their wishes if they become unable to do so themselves.
Though generally not as trendy as hitting the gym or planning summer vacations, such estate planning assurances bring peace of mind and create legacies of thoughtfulness for our loved ones.
Most individuals don’t ever consider the value and extent of their digital assets and the potential loss if these assets become inaccessible or the conflict that can arise if it’s unclear who has access to and control over them.
A recent study found that 34 percent of older adults do not have a spouse, significant other or children who can provide their care.
Though ‘estate planning’ may bring to mind visions of rich families squabbling over the ancestral silver, it isn’t just for the wealthy or older people, financial planners say.
Legal planning can protect your parents, prevent family disputes and bring peace of mind to beleaguered caretakers in the sandwich generation.
Estate planning is crucial and beneficial in many ways since it documents all your assets—from real estate, bank accounts, investments and business interests to personal items, like family heirlooms and even your monthly subscriptions.
Let’s hope you have a will and have named a power of attorney for finances and health care.