Welcome back! Our wills lawyer in Cary NC is here to discuss more overlooked aspects of estate planning. If you missed our last post, be sure to check it out before moving on. The information is key.
Things to Consider for Estate Planning | Wills Lawyer in Cary NC
Remember, in our last blog post, our wills lawyer in Cary NC stated that estate planning should consist of documents contain a will, which outlines who will get your assets. But it is best to not stop there. Your estate plan should also include information about trusts, power of attorney, beneficiaries, a living will or medical directive, an inventory of your assets, and information regarding who should care for your children if they are under 18 or unable to care for themselves.
Durable power of attorney for finances
Now that you have someone overseeing what happens to you in the event of a medical emergency, you probably want someone to take care of financial matters for you. A durable power of attorney can make decisions regarding assets, taxes, and investments, and can manage your small business in the event that you are not able to do so. Leaving these matters up to a trusted individual can ease some of the distress your spouse or family may be going through if you were involved in an accident or became ill. In some cases, your spouse may not even be able to make those decisions, so it is important that someone is named so your assets are not frozen.
A durable power of attorney ends when you are again able to manage your own affairs, or at your death. Keep in mind that he or she is not authorized to handle your finances after you die. The person who would handle that would be named in your will.
Check out the next post where our wills lawyer in Cary NC has plans to discuss more overlooked aspects of estate planning.
If you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our wills lawyer in Cary NC is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our office.
As always, feel free to contact us at our office to schedule a consultation with if you are looking for a lawyer to represent you in other legal matters. We are here to assist you with small business needs, trademarking, copyrighting and DWI issues.