An Ounce of Simple Estate Planning Can Prevent A Pound of Legal Work
As the “Silver Wave” or “Gray Wave” segment of our aging population builds, many Gen X kids are taking on the responsibility of addressing estate planning for their parents. https://www.pewresearch.org/short-reads/2020/04/28/millennials-overtake-baby-boomers-as-americas-largest-generation/ Goodin Abernathy’s estate planning attorneys can support your estate planning with an easy, cost-efficient package of documents. Our attorneys will meet with you and your loved ones to personalize the details for Wills, Powers of Attorney, appointing a Health Care Representative and drafting Living Will or Advanced Lifecare Directives. Depending on your particular needs, our estate planning packages start at Five Hundred Dollars ($500.00) per person / package.
Over the years, our Goodin Abernathy LLP attorneys recognize two client tendencies typically frustrate the chances of arranging their estate planning. First, the “there’s always tomorrow” attitude puts it off. Of course, we hope our clients lead long, healthy lives. But the best time to plan is when you are healthy and mentally alert. Recently a family brought in their elderly father seeking legal help for his estate planning. Unfortunately, a dementia condition that started years ago progressed too far. Instead of preparing simple estate planning documents, the man needed a court appointed guardian. Of course this process requires a lot more time and costs a lot more money than preparing our estate planning packages.
The second phenomenon preventing people from timely preventing their estate planning is the “do it yourself” kit. The internet advertisements for estate planning offer “cheap” alternatives for handling your estate planning needs. Unfortunately, this approach usually promotes procrastination and the project is never accomplished because it always seems easy to do “next weekend”. Plus, let’s be honest and remember the age-old adage that “a person representing themselves has a fool for a client”. Just contact our Goodin Abernathy attorneys and get it done the right way. We will meet with you and take the time to evaluate your needs, explain options and suggest your best plan of action.
Basic Estate Planning Packages
A legally executed will expresses your wishes and provides instructions for handling the probate process. Many clients understand the importance of listing specific bequests and our attorneys walk them through the best course of action for handling these instructions. Wills may also save your heirs inheritance money by directing your personal representative on how to probate your estate.
Power of Attorney
Often, before one dies, their mental capacity or physical health begins failing. The Power of Attorney confers the legal authority to a designated representative. The representative may use the authority to manage financial affairs, business decisions and other important legal tasks for the grantor if she / he are medically or legally incapacitated.
Health Care Representative
The Health Care Representative appointment allows you to legally designate a representative to communicate with your health care providers. Often, hospital systems and doctors are reluctant to share information or accept medical decisions if a legal health care representative is not appointed. Establishing this directive allows your loved ones to be a part of your health care journey, know what’s going on and help make important decisions.
Living Will or Advanced Health Care Directive
Indiana law recognizes and respects a person’s Living Will document. This document states your wishes for important end of life decisions. Frequently hospitals want to know if you have a Living Will for handling treatment in terminal situations. You may feel relieved to know your family members will not bear the stress of making decisions about life support since your Advanced Health Care Directive will address your wishes.
Mind you, estate planning packages are important for new families as well. The documents provide moms and dads the security of know their children are taken care of in the event of accidental death or surprise medical conditions. You may appoint guardians for your children and develop Trust terms for managing assets until the children are mature enough to make sound financial decisions. Since our attorneys have helped widows and seen the devastating impact of sudden death on young kids, Goodin Abernathy LLP attorneys understand how to explain important planning concepts to our younger clients as well.
Our attorney handle probate for the heirs and family members of deceased loved ones. Estate planning is simply distinguished from probate in that it involves planning for the ultimate probate of an estate. Legal requirements control how estates are managed and property is distributed in the “probate” process. Start building a trusting and friendly relationship with our attorneys now. Our professionals will share legal guidance in a comforting manner for your loved ones after you pass.
Contact Goodin Abernathy LLP to schedule a meeting for your estate planning needs. We provide personalized service and tailor the documents to fit your wishes. The task does not take much time – but protects a life’s worth of effort. Call us, we look forward to serving you today!