Are you new to estate planning in Cary NC? If so, there are a few quick tips you might need to know about. Below, you'll find an easy guideline to follow. If you have questions throughout this information, be sure to contact us, soon.
Tips for Beginners | Estate Planning in Cary NC
Living Will - One of the most important documents in an estate plan, there are many reasons why you need a Living Will. This document is designed to allow an individual to address questions that deal with life ending situations and whether or not they want to endure life sustaining procedures, in the event that they become critically incapacitated.
Designating a Guardian - An untimely death can leave your children without a parent. It's important to select a guardian that can care for your children when you pass. This individual should be someone that you trust to raise your children as their own. They will make financial decisions for them, as well as other life decisions.
Power of Attorney - A Will is often thought of as the most important part of an estate plan. In many cases, a Power of Attorney is just as important, if not more so. Financial affairs must be dealt with no matter what situation you find yourself in. Incapacitation and death are no exception.
Business Protection - If you own a business at the time of your death you should include a succession plan in your estate plan. If you own a partnership, there should be a plan or buyout agreement set forth so there aren’t any loose ends upon your death.
Beneficiaries - It’s important to name a beneficiary for all financials. This helps the accounts become automatically payable upon death to the correct person.
Eldreth Law Firm PC
Estate planning in Cary NC is important. It’s a way to ensure your loved ones are cared for after you’ve passed. It’s also a way to distribute your belongings to specific loved ones as well. It’s important that one not pass without this document. Doing so can result in a court case that will leave your loved ones stuck in probate court. This could be not only time consuming but expensive as well.
For more information on basic estate planning from our lawyer, be sure to visit back with us, soon! If you have questions about the information you’ve received here, contact us. We are here to help.