Every adult should have an estate plan! You are never too young, and certainly never too old, to have the proper planning documents in place.
Estate planning can consist of:
- Last Will and Testament,
- A Trust, in some situations,
- Powers of Attorney, including a Statutory Durable Power of Attorney (financial power of attorney), Medical Power of Attorney, and a Directive to Physicians and Family or Surrogates (a Living Will),
- HIPAA Releases, to provide access to medical information for various persons,
- Pre-Need Designation of Guardian,
- Pre-Need Designation of Mental Health Services,
- The List Goes On!
Having the appropriate documents in place can save your family a lot of heartache, time and money should the need to use them arise. These documents are situation specific, and it is greatly beneficial to consult an attorney before drafting or signing anything. It is also important to have an estate plan in place that meets your specific needs: under-planning or over-planning can be as detrimental as having no planning at all. Katten & Benson can help you decide what is appropriate for you, and draft these documents for you.