Think of your estate plan as a gift you’re giving your loved ones. By planning ahead, and documenting your wishes for how your estate and affairs should be managed during periods of your incapacity and after your death, you’re helping to ensure your wishes will be carried out. You’re also likely making the process significantly easier for those tasked with acting on your behalf.
Attorney Michelle A. Booge of Dyer Bregman & Ferris, PLLC in Phoenix can help with your estate planning by preparing professional wills, trusts and advanced directives.
Planning for Periods of Incapacity
Without proper planning, your loved ones would not be able to manage your financial affairs without going through the legal process. By planning ahead, you can designate someone to act on your behalf, easing the emotional burden, stress and expense that can come with court proceedings.
You can also designate a family member or friend as a heath care agent through a durable power of attorney for medical care. Doing so gives that person the authority to carry out your wishes. Creating a living will is a way for you to clearly define, in writing, what your wishes are, so your loved ones can honor those wishes.
Planning for Managing Your Estate
Estate planning also involves preparing legal documents to govern the administration and distribution of your estate after your death. Your estate plan should be tailored to meet your specific needs and goals, and may include one or more trusts, a will, or a combination of them. It’s also important to review beneficiary designations on things like life insurance and retirement accounts to ensure all of your assets will pass the way you want them to.
Your estate planning documents will identify who is in charge of the process of winding down your affairs after you’ve died. If you have minor children, it’s also important to designate a guardian, to have physical custody of your children if you die prematurely, and to plan for how assets would be distributed to your children or on your behalf after your death.
Planning to minimize the amount of taxes your estate will owe is also an important consideration, and it is part of the estate planning process.
Contact Attorney Michelle A. Booge in Phoenix Today
Because none of us knows what’s around the next corner in life, there’s no better time than the present to have your estate planning legal documents prepared or refreshed to reflect your wishes and current situation.
Contact Phoenix estate planning attorney Michelle A. Booge today at (602) 254-6008 to get started with your estate planning today.