Avoid Estate Planning Mistakes by Executing 3 Essential Documents
With all the paperwork involved in planning your estate, it’s easy to make mistakes. It’s even easier to put estate planning off. But if you’re willing to spend the time, it’s not too difficult to nail down the basics. We’ll cover the most important estate planning documents you’ll need to ensure your wishes are carried out. Always remember to consult an estate planning attorney in Buena Park to help you execute these documents.
Last Will and Testament
This is probably the document you’re most familiar with. It may sound scary, but this document is essential to your estate planning. It allows you to control how your assets are distributed, whether they go to children, spouses, or other loved ones.
In a last will and testament you also decide who will be the executor of the estate. The executor is the person who ensures everything you specify is carried out. Lastly, this document gives you a place to decide who will be the guardian of your children after your death. An estate planning attorney in Buena Park will help you prepare these documents.
Living Will
A living will is a little bit like a last will and testament, except it is only in effect when your health deteriorates to the point that you can’t communicate your wishes. A living will lays out your desires regarding whether you’d like to continue receiving life support if you’re terminally ill.
The living will should also designate a health care power of attorney which gives legal power to a person you designate to carry out your wishes. Find an estate planning attorney in Buena Park to help you prepare your living will.
Financial Power of Attorney
Similar to the healthcare power of attorney, the financial power of attorney designates someone to handle your financial affairs when this document goes into effect. You have the flexibility to decide when the financial power of attorney becomes valid. That way, if your physical or mental health deteriorates, someone you know and trust can handle important financial decisions.
Estate planning is easy to put off, but procrastinating puts your property and assets at risk of falling into the wrong hands. The Law Office of Norman J. Homen specializes in the range of legal issues that come about when you’re planning your estate. If you have any questions regarding your estate, contact the best estate planning attorney in Buena Park and the surrounding areas.
Call us today at (866)383-4529 to talk to an estate planning attorney in Buena Park. Or continue reading our blog for more helpful legal tips!
