It may seem morbid to think about end-of-life issues, especially if you’re starting a family or new career. You’re probably more concerned with your child’s college education and when you can retire. Your will, living will, powers of attorney, and other estate planning matters may not be at the forefront of your mind. However, you put your interests and your family’s well-being in jeopardy if you don’t consider what would happen if you’re not around.
With the help of an Angier wills & power of attorney lawyer, you can take control over your future.Angier family lawyer Jonathan Breeden is happy to review your situation, explain your options, and draft the proper documents. He has accumulated considerable legal knowledge in wills and powers of attorney in his years of experience as an attorney in Harnett County.
Your will is a document you execute to state your wishes on how you want your assets to be distributed upon your death. There are certain requirements to create a valid will, which is why it’s important to get assistance from a will lawyer. However, if you do it right, the provisions are very difficult for someone else to contest when you die. Some additional considerations may help you understand the legal implications and benefits of a will.
Your will is used as a tool to give your assets to your intended beneficiaries. As testator, you designate an executor to engage in the tasks as required to wrap up your final affairs. That person will be in charge of paying off your debts, selling assets according to your directions, and distributing your property to named individuals. Your will may cover various assets you hold as an individual, as opposed to jointly with another person, such as:
If you have questions or concerns regarding naming an executor, what assets to include on a will, or other related issues, contact an Angier wills & power of attorney lawyer for help today.
Many people assume that you need to be rich to execute a will, but that’s not true in most cases. Regardless of the value of your estate, a will offers significant benefits, including:
If you die without a will, the situation is coined “intestacy” under state law. Any assets you own are distributed according to state laws of intestate succession, so your spouse, children, parents, siblings, and further distant relatives may receive portions of your estate.
Without a will, you have no control over who gets your assets. In addition, you cannot make specific bequeaths to non-related individuals or charities if you desire to help.
When you make decisions regarding the distribution of your assets during your lifetime, there are less likely to be arguments among your loved ones. Though they may disagree, anyone you eliminate from your will may decide against fighting a prolonged legal battle.
Your passing can have a significant impact on your business if you don’t have a plan in place through your will. Of course, it’s important to discuss your intentions and plan with other business partners, but a will can play a key role in continuity for your company. You can designate how your stake in the business is handled upon your death, such as reverting back to the organization, or passing to a chosen successor.
It may be tough to face the fact that you could leave behind minor children, but it’s worse to think about what would happen if you don’t indicate your wishes. Through your will, you can state who should care for them and how they can be supported, which is especially important if there’s no other parent in the picture.
Though tax laws are subject to change, a considerable estate can result in a significant portion of your assets going to the government through taxes. Along with other estate planning tools, you can plan gifts and use other channels to protect as must of your property as possible.
There are many additional advantages to gain by executing a will, especially if you coordinate other aspects of your estate plan to work with it. An Angier wills & power of attorney lawyer can explain how to coordinate different documents and legal components.
Otherwise known as an advance directive, a living will is an important document while you’re still alive. The point of a living will is to state your intentions about certain forms of medical treatment if you’re unable to express your wishes yourself.
A living will is a set of directions that applies to physicians and other health care providers that may be treating you under certain circumstances. You can provide instructions through your living will when you cannot do so yourself, such as when:
Your living will incorporates general information on the types of care you approve or disapprove, or it can include specifics on whether you would accept certain forms of treatment. Through your living will, you can state whether you consent to:
It’s common to think of executing a living will if you’re reaching a certain age or have been diagnosed with a medical condition. The truth is that you can benefit from creating an advance directive at any point in your life. A living will ensures your wishes regarding medical treatment, life support, and resuscitation are clear – and legally mandatory.
An Angier wills & power of attorney lawyer will assist you with explaining your options regarding advance directives and understanding the implications of your choices.
By executing a power of attorney, you can appoint someone as an agent, and grant them the authority to make decisions for you if you are unable to do so. Though you would probably consider these documents as part of an estate plan, they become effective during your lifetime. This is typically due to a surprise event, such as incapacity. A probate attorney can explain the details and benefits of these documents.
There are different types of legal powers you can grant to another person, including:
The key advantage of executing a power of attorney is that you may avoid going through costly, time-consuming probate court proceedings to have a guardian appointed. The process of guardianship requires someone to file a petition, have you adjudicated as incompetent, and go through a court hearing. Only then will that person be authorized to act for you on health care and financial decisions. You can bypass the process and have control over who becomes your agent by executing powers of attorney.
An Angier wills & power of attorney lawyer can review your situation and provide more details on the differences among various powers of attorney. With the help of an experienced advocate, you can make the right choices regarding which arrangements will be the best fit for your needs.
There’s no time like the present to begin thinking about estate planning options. Without a will in place, you have no input over what happens to your home and personal property when you die. Even during your lifetime, you may become incapacitated due to illness or injury. Unless you make proper arrangements with a powere of attorney, there may be significant uncertainty about your health care and financial decisions.
Attorney Jonathan Breeden knows the laws and legal strategies to help you achieve the goals you envision for end-of-life matters. He understands that planning for your own death and incapacity is a sensitive subject, which is why he strives to make the topic comfortable through compassionate legal guidance. He brings considerable experience to the table, so you know your future is in good hands.
Call Breeden Law Office today:(919) 296-3978