While death may seem far away for many people, it is never too early to consider creating an estate plan. Adults should all have estate plans, whether or not they have significant wealth or a spouse and children. Below only some of many questions an estate planning lawyer in Greensboro can answer.
What type of estate plan do I need?
Estate plans should be specially tailored to fit your situation and meet your needs and goals. There are many documents that can help you develop a comprehensive and effective estate plan, including:
- Last will and testament
- Living trust
- Pourover will
- Power of attorney
- Healthcare power of attorney
- Living will
Each document has its own specific purpose and benefits, and you should discuss with an attorney what documents are right for your estate plan at this stage in your life.
How can having the right estate plan benefit me and my family?
You may think that writing a will simply gives you control over the distribution of your property after you pass away, which is true. However, there are many, many additional benefits of a complete and carefully drafted estate plan. Some benefits include:
- Avoiding the probate process for your family
- Shielding assets from the creditors of your beneficiaries
- Ensuring your children have a trusted legal guardian without having to go through the guardianship process in court
- Preserving your wealth with the right long-term care planning
- Providing support for loved ones without causing them to lose public benefit eligibility
When should I call a Greensboro estate planning attorney?
If you are 18 or older, it can never hurt to learn about estate planning and consider taking next steps to protect yourself and your family. If you already have an estate plan, it may be time to revisit and update your plan. We can help you in any situation.