By: Tayane Oliveira, Esq.
Many of us go through life devoting more time to planning a vacation, or even selecting what to have for dinner, than we do thinking about having an estate plan put in place. It is certainly not a fun topic to think about, but without an estate plan, you will not be able to determine who gets everything that you worked so hard for, as well as many other important decisions that you would want to be able to make on your own behalf.
Estate planning is important for everyone, no matter their age or wealth. It is not only for the “rich”. Even those without much to go around can have loved ones impacted by a long-lasting and costly probate process. Some of the benefits of having a plan in place are granting you the power to choose who will inherit what among your possessions and valuables. It allows you the ability to name your children’s guardian in the event of your premature death or incapacity. It may even reduce taxes on what you leave behind, minimizing the chances of family conflict and ugly legal battles, and allows you to designate a person of your choosing to make financial and/or healthcare decisions on your behalf in the event you are unable to do so.
A good estate plan is comprised of five key elements: Will, Trust(s), Power of Attorney, Health Care or Medical Directive, and Beneficiary Designation. Our distinguished team of legal experts is here to guide you and help you gain a better understanding of how important every single one of these documents are and what legal significance they each have.
Life happens, things change, and the unexpected can always occur. When you fail to plan, you plan to fail! If you want your assets and loved ones protected when you can no longer do it, you undoubtedly need an estate plan. Brodzki Jacobs is here to assist with all of your estate planning needs to ensure long-lasting peace of mind, and allow you to focus on the fun things in life, like planning that dream vacation.