The Benefits Of Estate Planning

 In Estate Planning

August 30 was #GriefAwarenessDay. On that day (and throughout the year) Miles Zatkowsky, Rochester Elder Law Attorney shares how important it is to pre-plan your funeral and plan your estate as a way to lessen the burden your survivors feel when you pass.

When your family is faced with the loss of a loved one, it is difficult for them to wade through the myriad amounts of paperwork and red tape necessary to carry out your final wishes. If you haven’t spoken with an elder law attorney to have your estate paperwork prepared, you could be leaving them in a financial bind at an extremely emotional time.  

The Benefits Of Estate Planning

For example:

  1. Does your family know whether you want to be buried or cremated?
  2. Do you have a burial plot chosen?
  3. Does your family know whether you have a will and if so, where it is?
  4. How will your family pay for your funeral if you haven’t preplanned?
  5. If you’re incapacitated and cannot speak for yourself, do they know whether you have a DNR in place or who your healthcare proxy is?
  6. Have you had a Power of Attorney prepared and chosen an individual to speak on your behalf if you cannot?

The benefits of estate planning cannot be denied

As we move through our lives, pursuing careers, taking care of a home, raising family, coming full circle to care for aging parents and the everyday items that make up our lives, we don’t think about preparing our Last Will and Testament or choosing a power of attorney or getting your estate paperwork in order.

What is included in your “estate”?

  1. Bank accounts
  2. Stocks, bonds, investment portfolios
  3. Real estate
  4. Life insurance policies
  5. Personal property – vehicles, jewelry, collectibles, etc.

When you work with a Rochester Elder Law Attorney you make plans that ensure your estate is transferred, according to your wishes, to your heirs. Estate planning means you’re not leaving it up to the courts to decide who “gets what; this is because you’ve left specific instructions as part of your estate plan.

When planning your estate and working with an elder law attorney you make plans for the transfer of your estate – regardless of its value, everyone needs an estate plan in place. Your estate plans ensure the financial goals you consider important are met upon your passing.

When should you plan your estate?

Planning your estate while you are in good health also lets you make a decision that is not driven by emotion as to who your power of attorney will be. This is an important role as the power of attorney is the individual(s) assigned to make financial decisions on your behalf if you become incapacitated.

How can you get started on your estate plan?

Contact Miles Zatkowsky at Rochester Elder Law and he or one of his experienced elder law attorneys will help you navigate the sometimes-complex legal paperwork necessary to plan your estate.

As we mark #GriefAwarenessDay today consider that you should plan your estate when you’re healthy. Planning your estate when you’re not burdened by emotion or a pressing health issue helps you make decisions that are not driven by emotion.

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