One of the most essential things you can do for your loved ones is creating an estate plan. However, it is a duty that many of us fear and put off until later in life. If there is one thing we can advise, it is that it is never too early to begin planning, but it is possible to start planning too late. Do you have a plan in place to care for their family members in the event of your incapacity to work or your death?
It’s easy to become overwhelmed if you’re new to the concept of estate planning in Mansfield, CT, but don’t let that stop you. Our expert attorneys at the Prue Law Group will take care of your estate planning needs and provide several benefits.
Estate planning encompasses more than just a will. Many people mistakenly believe that a will and an estate plan are the same. They aren’t. Wills and estate plans both specify how your property and possessions should be managed after you pass, but estate planning goes much farther. For example, if you don’t choose whoever gets to own your resources or property after you pass, you won’t have any control over what happens even if you’re only leaving behind a second home.
The rich aren’t the only ones who benefit from an estate plan. It goes into greater detail than a will about how assets and end-of-life wishes should be handled. Establishing an estate plan is one way to honor your familial bonds.
A living will, like a power of attorney, is intended to transmit your desires regarding critical medical procedures and decisions if you are unable to communicate them. Proper estate planning will assist family members and medical professionals in making informed decisions about long-term care or major treatments, saving them time and stress.
For more information, please contact us.