Preparing is key for estate planning success. Making wishes clear to family members is never enough to satisfy legal standards, according to a recent article, “Preparation is essential part of estate plan” from The News-Enterprise. Quite the opposite occurs when family members refuse to follow verbal requests, especially when personal grievances come to the surface during times of grief.
A common misconception concerns the spouse or children being able to step in and take action for a loved one solely based on the family relationship. Many parents have children who would make poor agents, so many don’t name their children to act on their behalf. Even if you want your spouse or child to act on your behalf, you have to name them in the proper legal documents.
Additionally, another frequent misconception is that documents can be created when needed. Not so! Documents like Power of Attorney, Health Care Power of Attorney, Living Will and others must be created well in advance. An incapacitated person cannot sign legal documents, so if no planning has been done, the family will have to petition the court to name a guardian—an expensive, time-consuming and complicated process.
What Documents Should I Have?
Book a call with Vick Law, P.C., an experienced estate planning attorney, to be certain you have these essential documents to prepare for the times when life doesn’t go as expected. Preparation is key to protecting yourself and those you love.
Reference: The News-Enterprise (May 13, 2023) “Preparation is essential part of estate plan”