Do not put off estate planning any further if you have children or heirs in your household. While the idea of drawing up a will sounds depressing, you need to plan for any unanticipated future event. It is the responsible thing to do. In Kansas, if you own property and assets, you should create a will. Even if the value of your estate is not substantial, creating a will ensures that your assets will be managed according to your directives.
Make Sure You Make the Decisions
Estate planning attorneys in Topeka, KS can make creating a will an easy task. Without the benefit of a will, you are giving the state clearance to decide who in your family gets what. This type of process can end up being costly and lengthy for your survivors. However, when a will is created, you can make the following decisions yourself:
- How the assets of your estate will be allocated to survivors
- What provisions will be made for dependents or minor children
- Who will serve as executor of the estate
Establishing a Power of Attorney
Once you have sat down with estate planning attorneys, it is helpful to go over your will and update it every now and then. However, you do not have to stop there. You can also put some contingency plans into place. For example, the time may come when you cannot make your own decisions. If so, you need to establish a financial power of attorney. A power of attorney is someone you designate to make financial decisions on your behalf.
Naturally, no one wants to consider instances where they may become too injured or sick to make choices about their medical care. However, you can gain peace of mind in this respect by speaking to estate planning attorneys. Attorneys who handle estate matters do everything in their power to make sure all your wishes are met, whether they are final or medical in nature.
Learn more about estate planning alternatives and visit the website Debenhamlaw.com today.