Life is unpredictable and tomorrow is never guaranteed. When it comes to legal preparations, our biggest concern should lie in making preparations early, in consideration of those we leave behind to ensure we protect our loved ones as best we can. People often think of estate planning as something reserved for the very wealthy or the elderly. That is incorrect. Estate planning is about thinking ahead. It is about your desires, goals, and support for your family whether you are a single parent, married couple, unmarried individual or a business owner. Estate planning is simply taking charge of your future and making sure that the belongings you worked so hard for are preserved and protected. It is the simplest way to ensure your assets go to the people you love most upon your death.
Nobody likes planning for death, but failing to do so could cause your family immeasurable stress and conflict down the road. At some point in everyone’s life, certain difficult questions must be answered. With help and support from JMG Law Firm, you will find a proper resolution to these questions and rest easy knowing they are no longer a concern. A basic estate plan includes four essential documents: Last Will and Testament, Financial Power of Attorney, Advance Directive for Health Care, and Nomination of Guardian, Conservator, and Trustee (if applicable).
Last Will and Testament
A written Will provides a blueprint for your executor to distribute assets to your estate. A Will should not be a single document written once and then set aside until it is needed. Wills should be updated to reflect the kinds of life changes you experience such as marriage, birth of children, divorce, death in family, significant changes in your financial situation, purchase of a home or other large assets. Significant life changes are an excellent time to revisit your estate planning to ensure it remains legal and relevant, and that your loved ones remain protected and cared for.
Financial Power of Attorney
A Financial Power of Attorney is a document that allows you to name one or more persons to help you handle all of your financial affairs. Depending on your individual circumstances, you can give the individual complete or limited power to act on your behalf. The person should be someone you trust not to misuse the authority you grant. This document does not give someone the power to make medical decisions or personal decisions for you. You should regularly review this document. Relationships can change and the person you deemed trustworthy or competent may not remain so.
Advance Directive for Health Care
An Advance Directive for Health Care is a document that is meant to communicate your wishes regarding any care you will receive, treatment, guardianship over you, what you would like to happen after passing, and if you no longer have the capacity to make reasonable decisions, what you would like to happen.
Nomination of Guardian, Conservator, and Trustee
A Nomination of Guardian, Conservator, and Trustee is a necessary document needed if you have children. This document states who you would like to care for your children in the event you pass while your children are still minors. This document will give you peace of mind knowing that your children will be well taken care of.
Memory Making
As people, we are natural storytellers and we are great consumers of stories. Every person has a story, and every story is important to that person. Our firm understands this. Unfortunately, when we pass, our stories are lost. Your life’s narrative is gone and can never be told again by you. Our firm understands how important it can be to you and your loved ones you leave behind to preserve some of your story, to capture some small part of your completely unique journey through life. Your stories contain the crossroads you faced in life, and the decisions you made at those crossroads. With the help of our firm, your stories do not have to be lost. Your stories can survive you to inform and entertain the loved ones you leave behind.
We introduce to you Priceless Convos. You can give your loved ones the gift of a Priceless Convo which will allow you to leave a lasting expression of your care and love. We use a digital voice recorder to capture the sound of your voice, your stories, your wisdom and advice. We make it easy and enjoyable for you and it does not involve any homework, research, writing, or cameras. You choose from a wide range of Priceless Convos topics. Depending on your subject, you may recall adventures from your childhood, talk about family traditions, give advice about managing money, or pass along secrets for a happy and successful life. Let us help you make these memories.
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