Don't Hesitate to Implement These Four Estate Planning Essentials

According to a CNBC report, only about a third of American adults have an estate plan in place. That means roughly two-thirds of us are leaving what happens with our legacy and belongings in the hands of others and the courts. No matter what stage of your life you find yourself in, there is simply no reason for anyone to delay in implementing these four estate planning essentials:

WILL

Look around you right now. Everything you see has to be distributed in the event of your death. Your Will names the person you want to handle it all and can also indicate who you want to receive it all. If you don’t have a Will, a judge decides who is in charge of your affairs and state law provides who receives everything you own. Take control now by getting your Will in place today.

ADVANCE MEDICAL DIRECTIVE

Also known as a living will, this document provides the legal right for the person of your choice (your representative) to make healthcare decisions for you in case you become incapacitated and unable to make those decisions for yourself. It also lets that person know HOW you want decisions to be made if you cannot make them for yourself. Without an Advance Medical Directive in place, your family could have their hands tied when it comes to ensuring you get the best care possible in the way you would want. 

POWER OF ATTORNEY

In the event you cannot communicate, your Power of Attorney will allow your family to gain access to your financial accounts so they can pay your bills and manage your financial affairs. Without this in place, they’ll face an expensive, long and public court process to take matters into their hands. Don’t leave your family in that position, handle this today.

TRUST

If you own any property that would go through the probate process (a home, bank accounts, brokerage accounts, business assets, investment real estate, and other investment assets), you’ll want to make sure to have a Trust set up as soon as possible so your family isn’t stuck dealing with an expensive, unnecessary, long, and public court process in the event of your death. A revocable living trust puts the people you know, love and trust in control without having to go to court.  

Now that you know how to get started, don’t wait to get started on your estate plan! At Simpson Law Firm, we believe there’s nothing more important than helping the people of the Carolinas secure their legacies. To learn what we can do for you, call us to schedule a consult and see why hundreds of families like yours have recommended our services!

This article is a service of Simpson Law Firm. We do not just draft documents; we ensure you make informed and empowered decisions about life and death for yourself and the people you love. We offer an Estate Planning session, during which you will get more financially organized than you’ve ever been before and we will assist you in making all the best choices for the people you love. You can begin by contacting us here,https://simpsonestatelaw.com/contact-us or calling us at 803-764-9555, and one of our friendly client service assistants will help you set up your consultation