Do I need estate plan?
An estate plan is essential for every adult, regardless of age or health status. Having an estate plan ensures that the needs of you and your family are met now and in the future. Examples of estate planning documents include:
A will is legal document that says how to distribute your assets upon your death. The exceptions for such distributions are assets that transfer by contract (such as “pay-on-death” bank accounts and property held in joint tenancy with a right of survivorship).
Wills perform other functions as well. You can designate a guardian for your children. It is crucial to nominate who will be the primary custodian and caregiver for children if both parents die.
General Durable Power of Attorney
This document allows you to name a person to make financial decisions for you in the event of incapacity.
Health Care Power of Attorney
This document allows you to name a person to make medical decisions for you in the event that you are incapacitated and unable to make decisions for yourself.
Living Will Declaration
This document allows you to state your preferences regarding end of life decision in the event of incurable illness or persistent vegetative state.
Having a proper estate plan in place can give you peace of mind knowing your loved ones are provided for and protected. Do not rely on Google or other on-line services for accurate legal documents as they may not be valid in Indiana.
With over 33 years of experience, you can trust Steven Knecht to help you with your estate planning needs because your family and you have a lot at stake on the outcome.