5 Frequently Asked Questions About Estate Planning:
1.) What is Estate Planning?
Estate planning is putting a legal plan in place should you become incapacitated or die. It ensures that your interests are protected should you no longer be able to protect your own interests and it establishes a plan for how your possessions will be distributed upon your death.
2.) Do I need an Estate Plan?
Yes. There are many different types of estate plans and a knowledgeable attorney can guide you to which one is best for you. At the very least everyone should have a will; a durable power of attorney in case you become incapacitated; and a health care power of attorney and living will for medical issues that may arise.
3.) What exactly is a Will?
A Will is a simple document that identifies who receives your assets when you die.
4.) Who makes medical decisions for me if I am incapacitated?
The health care power of attorney document states who this will be. Usually, it’s a spouse or some other family member. This allows that person to talk to your doctor about your medical condition and make decisions for you if you are unable to make decisions on your own.
5.) Who would make the decision to take me off life-support if I am very ill?
You can decide that in your “living will.” This document dictates your last wishes to your doctor and family members.