It is important for everyone to develop a plan to ensure their assets are protected and healthcare wishes are documented in the event of their death or disability. The Ivory Tower Law Group is here to help. To get started, it may be helpful to consider and/or prepare the following:
List of Assets
According to the IRS, an asset is any resource with economic value that is expected to provide a future benefit to its holder. This includes property, such as houses, cars, stocks, bonds, and savings accounts. Please note that it also is important to document your liabilities.
Healthcare wishes
By planning ahead, you can get the medical care you want and avoid unnecessary suffering. You also can relieve caregivers of decision-making burdens during times of crisis or grief. And you help lessen confusion or disagreement about the choices you would want people to make on your behalf. Decide which legal tools (such as living wills, medical powers of attorney, or advance directives) you want in place.
Family Members/Beneficiaries/Decision-Makers
Developing a list of family members, dependents and other beneficiaries, responsible decision makers, and qualified professionals is crucial.
Contact an Estate Planning Attorney
Consulting an Estate Planning attorney will help you navigate the applicable federal and state laws involved in developing a comprehensive estate plan.