Personal Planning includes Wills, Living Wills, Trusts, Powers of Attorney, Nominations of Guardian. Personal Planning involves providing for yourself, your family, other loved ones, or making charitable gifts that may go beyond your own life. Usually, when someone is interested in personal legal planning they come to me saying, "I want to make a will." When dealing with personal, or estate plans there is little more powerful than inertia. The way it is now is the way it will stay until you act for change. Deadlines, lookback periods, and the unexpected can destroy hopes and dreams. Talk with an attorney to plan out your goals, and work toward them. Do it now.
We see people do well when they are prepared well. Making your last will and testament known to the loved ones you will leave behind when you die is the ultimate preparation. Often, directing
assets through a will is the best way to provide for your loved ones, or charitable causes when you no longer need material possessions.
Living wills are one way for you to communicate to the people close to you what should happen when you are no longer able to make, or carry out your own medical decisions. Times like this are often stressful, and exaggerate even slight family disfunctions. Clear communication of your wishes often help to keep peace by eliminating one source of contention.
Trusts are another way to provide for yourself, and others, especially when you cannot do so first-hand. A well-crafted trust may help qualify for means-tested benefit programs. And, a
well-crafted trust may prevent the proceeds of your life's work from going to an ex, with whom you share a child. Many couples who split disagree about money, and how to spend it for, on, or on
behalf of children. If you do not plan, do you know what would happen to your assets if something happened to you?
Powers of Attorney
Everyone needs a power of attorney. Whether you have two nickels to rub together or not. A power of attorney is like the legal equivalent of creating an identical twin. One who could do every
legal act you could otherwise do. The first step is determining who you trust most in the world. This alone is a good idea.
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