Estate planning involves much more than simply drawing up a will. Many individuals hire a lawyer for Estate Planning Fall River MA. Working with a lawyer can ensure all of the documents are filed legally so there is less of a chance of issues once the party is deceased. Because there are several steps in the process of estate planning, it can be beneficial for a person to understand each step so they can be prepared.
* Creating a will is an important part of estate planning. A will names who gets what property and who will be given guardianship of any minor children. A lawyer can help a client ensure their will is drawn up to their specifications so the state does not get involved in deciding how their estate is settled upon their death.
* Deciding on health care directives is an integral part of estate planning, even if a person is in good health and young. To draw up these documents, one will need to create a living will that states their wishes if they are in need of life-saving medical intervention such as a ventilator. It also names the power of attorney. This individual is given the legal power to make important medical decisions if a person is unable.
* Although a person will name a power of attorney in their health care directive, they will also need to create a power of attorney for financial matters. Some individuals decide to use one person for both roles but this is not necessary if a person wants to have two different individuals named.
* If one has bank accounts and retirement plans, it is important they fill out the necessary beneficiary forms so the accounts become payable upon death. This makes the payment process much easier for beneficiaries, helping them to avoid hassles in the process.
Although one can create their own will without legal help, there is much more involved in estate planning. It behooves a person to hire a lawyer to help them with each step of Estate Planning Fall River MA. If you are in need of these services, contact the Law Offices of Business Name.
