Estate planning is a critical aspect of managing your affairs and ensuring that your wishes are carried out in the event of incapacity, medical emergencies, or passing away.
At the Angelos Legal Group, we offer a comprehensive package that includes a Last Will and Testament, Advanced Medical Directive, and Financial Power of Attorney. Understanding the importance of these legal instruments will help you protect your assets, make informed decisions about your healthcare, and provide for your loved ones.
Last Will and Testament
A will is a foundational document in estate planning that allows you to dictate how your assets will be distributed upon your death. Key reasons to have a will include:
Asset Distribution: A will enables you to specify who will inherit your property, money, and possessions, ensuring that your intentions are carried out and minimizing potential conflicts among family members.
Guardianship: If you have minor children, a will allows you to designate a guardian to care for them in the event of your passing. This ensures their well-being and allows you to choose someone you trust to raise them according to your values.
Executor Appointment: You can appoint an executor in your will to manage the administration of your estate, ensuring that your affairs are handled efficiently and according to your wishes.
Advanced Medical Directive
An advanced medical directive, which combines a living will and a healthcare power of attorney, allows you to make decisions about your medical care when you are unable to do so. Reasons to have an advanced medical directive include:
End-of-Life Decisions: A living will outlines your preferences for life-sustaining treatments, resuscitation, and other medical interventions in case of terminal illness or irreversible conditions. It provides guidance to healthcare providers and ensures your wishes are respected.
Healthcare Proxy: A healthcare power of attorney designates a trusted person to make medical decisions on your behalf if you become incapacitated. This ensures that someone you trust will advocate for your interests and ensure your healthcare preferences are honored.
Financial Power of Attorney
A financial power of attorney grants authority to someone you trust to handle your financial matters when you are unable to do so. Reasons to have a financial power of attorney include:
Incapacity Planning: In the event of illness, injury, or cognitive decline, a financial power of attorney ensures that a designated agent can manage your finances, pay bills, handle investments, and make financial decisions on your behalf.
Avoiding Conservatorship: Without a financial power of attorney, loved ones may need to go through the time-consuming and costly process of obtaining conservatorship to manage your affairs. Having a designated agent in advance can avoid such burdensome legal proceedings.
Estate planning is crucial for protecting your legacy, ensuring your healthcare preferences are respected, and providing for your loved ones. By having a will, advanced medical directive, and financial power of attorney, you can make informed decisions about asset distribution, healthcare choices, and financial management.
To get started on your package today, give us a call…