Planning how your assets will be divided among your family members after you die can give everyone in your family peace of mind. It can also open the door to conversations between you and your children that can resolve conflicts before they even arise. You can balance what is important to you with what is important to your children. Leaving gifts is merely one part of Estate Planning in Huntsville AL. There are other aspects of planning an estate that are much less glamorous but equally important.
An essential part of estate planning is assigning a power of attorney. Your POA can make financial or health care decisions on your behalf if you are unable to make them on your own. Be sure to choose a person you can trust and who understands your wishes. Many people naturally choose their spouse to serve as their POA. You’ll need to review your estate plan periodically to be sure the people you have listed as your POA and guardian of your minor or disabled children are still the right ones for the task. Should your spouse precede you in death or your marriage end in divorce, you will need to revoke the document and assign another person.
In addition to having a power of attorney, you might also want to have an advanced healthcare directive. This document tells your doctors which treatments you do and don’t want if you are unable to express those wishes yourself. Having this document as part of your Estate Planning in Huntsville AL may save your family from making life and death decisions for you. If you clearly state in your advanced directive that you do not want to be sustained with a feeding tube or ventilator when there is little to no chance of recovery, your family will not have to struggle with the choice of whether or not to keep you on life support.
When you are ready to put your wishes in writing, contact a law office such as Long Flanagan & McDonald LLC to help you document your estate plan. These documents can be modified at any time and should be reviewed regularly. It’s important to update your estate plan every time there is a major change in your life.
