When it comes to estate planning, it may be hard to get the ball rolling but is highly beneficial for your future in the long run. Residents in Nevada who take the time to plan for the future leave their heirs a stress-free plan of attack when it comes to your assets. It also helps you clearly outline your wishes in order to make them legally binding.
Although estate plans differ from person to person, there are some basic documents that most everyone should consider for their future. One of those important documents is a will. Setting up a will takes the stress off family members in terms of dividing your assets. People can write a will on their own, but it is always advised that the document be looked at by a professional. An estate planning professional can also help you detail exactly what you want done and how you wish to have things disseminated. Of course, the document needs to be witnessed in order to have legal standing.
Setting up a general power of attorney is also a very important step. That way, if you are unable to take care of your legal and financial matters, your appointed power of attorney can do it for you. If this step is not taken, your family members will have to head to court in order to apply for legal guardianship.
Lastly, when we are in good health, it is hard to think about the possibility of a serious illness or accident, but setting up documents that will help doctors carry out your wishes is important. If you wish to have a family member, such as a spouse, make those decisions for you, you can make them a health care power of attorney. The family member needs to have that document ahead of time. If you would rather take the decision burden off your family when it comes to matters such as medical life support, you can choose to write a living will. The will can outline your wishes and will leave the decision up to medical professionals.
Source: Akron Beacon Journal Online, “Betty Lin-Fisher: Wills and other legal documents still important,” Betty Lin-Fisher, Feb. 5, 2012