A consumer report said that just 7% of those ages 19 to 29 have an advance directive for health care emergencies. Even fewer have a will.
News4Jax’s recent article entitled “Are your affairs in order? Things to sign now to save your loved ones later” acknowledges that estate planning may be a little boring and will require an experienced estate planning attorney to finalize everything.
Nonetheless, this is one of the most important things we can do for ourselves or our families.
So, are your affairs in order?
Remember that your estate is essentially everything you own. If it’s not protected, it could be taken away from your loved ones.
Two important medical documents to have are a living will and a health care proxy. These documents allow you to designate the individual with the authority to speak for you to make medical decisions, if you cannot speak for yourself.
Another important document is a durable power of attorney. This document allows you to appoint someone you trust to handle your bills, assets, and other financial affairs.
Lastly, you need a last will and testament through which you name an executor (or a personal representative) to handle your final postmortem affairs. But a will doesn’t keep assets out of probate, so probate avoidance should be addressed as well.
One more item: as part of planning for our senior years, a plan should be put in place to protect assets from the costs of long-term care.
The highly experienced elder law and estate plannning attorneys at Kurre Schneps LLP can help you navigate the process and truly get your affairs in order.
Reference: News4Jax (Jan. 13, 2021) “Are your affairs in order? Things to sign now to save your loved ones later”
