The Estate Planning Guide: Setting Your Mind At Ease
If you've reached the stage of life where you are no longer as concerned with your own survival as you are with what will become of your loved ones after you pass on, you are probably ready to deal with the often cumbersome aspects of estate planning. And having a good estate planning guide to help you understand the legal concepts involved is one of the biggest favors you can do yourself. Having an estate planning guide will at the very least give you an inexpensive way to understand the jargon associated with various estate planning strategies so that, if you do decide to consult an attorney, you won't have to waste time and money having concepts explained. A good estate planning guide will offer you clearly written, practical advice n estate planning, and explain the consequences of each course of action. You should be able to find, in an estate planning guide, information on simple wills, living trusts, living wills, powers of attorney, the probate process, estate taxes, and choosing an executor. Your guide should also include a glossary with understandable definitions of all the legalese you can expect to encounter; model wills, living wills, and living trusts; worksheets and lists of questions to help you clarify your own estate planning needs; and frequently asked questions so that you don't have to pay an attorney for the answers. You will learn from an estate planning guide what will be expected of your executor if you have a will or of the successor trustee if you have a living trust. If you choose a living trust, you'll learn both how to establish it and how to transfer your assets into it. You'll know how to distribute your assets and make sure your wishes are carried out. By understanding the different powers of attorney, you'll assign the one which will suit your needs, and you'll understand to take control of your health care and life support with a living will. A well-written estate planning guide will explain how you can begin to distribute your assets during your lifetime so that there are no estate tax consequences. It will let you know how, if you are someone's executor or successor trustee, to settle their estate. You don't want to spent any more of your life than is absolutely necessary burdened with worry about what will happen to your survivors. By getting an estate planning guide which shows you how to legally and precisely indicate your wishes for your estate, you will spare your heirs needless the time and expense of a court proceeding. Using a good estate planning guide to draft your will, or living trust, or both, before you see an attorney will dramatically reduce the expense of getting your final affairs in order. Your attorney can simply review your documents to make sure they meet the requirements in your state, and make suggestions concerning anything which might not be absolutely clear. You'll be confident, after using the guide, that you can understand the suggestions, and that you've done everything you can to ease your loved one's transition after you are gone! |
