-- Unforeseen events can often have devastating consequences, but having some form of protection can help guard your family and your assets, Dennis Toman, founder of The Elderlaw Firm in Greensboro, NC has disclosed.
For more information please visit https://www.elderlawfirm.com
In a recent interview Toman pointed out that having a last will and testament, as well as a family trust, could help smooth estate planning when you pass away.
He went on to say: “Not having a will can cause unnecessary added grief for your family and could provoke fights in areas where there is doubt over your estate. While we can't control every aspect of our lives, we can control what will happen to our assets.”
Being clear and unequivocal should be part of any estate planning, and having an updated will and testament can be effective to narrow out any room for argument.
He added: "A last will and testament encompasses who will take care of any young children, who will be the executor and who will execute your wishes, and how your property will be divided.”
Otherwise, dying without a will adds uncertainty, and it is highly unlikely the probate court will allocate your assets in the way you wanted them.
Estate planning includes other documents, such as medical and financial powers of attorney, that a specialized lawyer can advise you to complete in the case of mental or health decline.
"A medical power of attorney with healthcare directives is vital when you are rendered incapable of making your own medical decisions," said Mr Toman. "It lets the person you select make decisions on your behalf according to your instructions.
“This also rings true for the financial power of attorney as that person will ensure bills are paid and any other financial matters are handled promptly.
“These medical and financial documents are only good during life, so you must have professional help when you put together all the proper living documents, as well as death documents.”
He said it was advisable that an alternate person is listed as an executor in case the first choice, usually, a spouse, cannot fulfill the role.
Mr Toman concluded: “If something untoward does happen, planning your estate can certainly help save you and your family any headaches and heartaches down the line."
Source: http://RecommendedExperts.biz
Contact Info:
Name: Dennis Toman
Email: Send Email
Organization: The Elderlaw Firm
Address: 403 W Fisher Ave, Greensboro, NC 27401
Phone: 336-378-1122
Website: https://www.elderlawfirm.com
Source URL: http://RecommendedExperts.biz
Release ID: 89025066
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