Life Insurance
Life insurance is a significant part of estate planning, and you must think about choosing a Life Insurance policy. Whether you are married or planning to get married, life insurance needs to be your priority that will help your partner and kids in future.It is not as complicated as you may think, and it is one of the most efficient plan available. Don't forget to think about any loopholes in your policy to assure that your close ones won't get any problem after your death.
A Will
If you have already chosen a life insurance policy, you have already done a lot. But, a Will is another necessary part of estate planning. Generally, a Will is a written statement declaring what you are looking to happen to your assets after your death. It is used to enforce who receives your property after your passing legally.You can prepare a Will yourself, or hire a probate attorney who will help you make legal Will and provide reliable guidance.
Read more: What is probate and how does it work in San Bernardino
A Durable Power of Attorney
Apart from Life Insurance and power of attorney, you need to have a durable Power of Attorney.It is a legal document that provides someone else the ability to handle your legal and financial affairs but expires upon your death.Basically, you can use a durable power of attorney to allow someone to handle your legal affairs in case of injury or illness.
Living Will
Living Will is a legal document that provides guidance about the medical care you wish to receive if you become incapacitated, and are critically ill or injured and unable to communicate your preferences yourself. The Living Will usually include some significant considerations such as whether you would like life-sustaining medical treatments or breathing tubes to be applied.If you’re working on the estate planning, you must consider making a Living Will.Once your estate plan is done, it is essentialto review it regularly to assure that it remains compatible with your goals. If you are looking for a reliable Probate Attorney in Inland Empire, then contact Law office of Michael C. Maddux.