In order to make it as easy as possible for you to manage.
Estate planning is more than plan for death and comprises forms for unavoidable accidents that cause disability or incapacitation. In case something occurs in the future, estate planning ensures your assets are managed the way you want and that someone is able to make health choices for you in the event that you’re unable to make them by yourself.
All in all, estate planning is the process of ensuring that someone can provide for themselves and their loved ones through a period of incapacity/disability. It allows them to transfer their estate and beneficiaries in the manner they would like, and also reduce expenses for taxes and unneeded legal fees.
A living trust, a will, an appointment on who’s to have the financial power of attorney along with a medical order. These directives determine who’s to manage the estate of the plan’s creator as well as who has the authority to make medical decision. They also give them the power to manage property in the event they become incapacitated.
Estate planning can be complex and requires a lot of effort. To find out more about how estate planning works you can watch the following video.