Getting Your Affairs in Order Will Give You Peace of Mind
You may have heard that it is never too early to get your affairs in order. While this might seem like ominous advice, an important point to remember is that when you begin estate planning early, you can rest easy knowing you don’t have to think about it during the twilight of your life. Retirement is meant to be enjoyed and having all of your estate planning done well ahead of time will help you go enjoy it even more.
The most important step to take when estate planning is to set up a will. These documents provide for how your estate will be distributed after you have passed away. A will lets you specifically choose beneficiaries and make sure they are provided for.
You also have the option of appointing a person who has power of attorney. This person, called your “agent,” is usually not your actual attorney, but instead someone who can act on your behalf should you become incapacitated. For instance, if you grant power of attorney to a person, you can communicate to them about the standard of living you would like and what type of medical treatment you would prefer should you be deeply incapacitated. They can take action on your behalf to meet your wishes.
Any health care directives should be included in a documents sometimes referred to as Health Care Directive, Living Will, Designation of Healthcare Surrogate or similar names. While your agent under your power of attorney will have the authority to act on your behalf as to your business affairs, these documents will give specific guidelines for what acts you want or want to refuse as to your healthcare. And, sometimes they appoint someone to carry out your healthcare decisions when you cannon. The goal of these documents to provide clear and unambiguous information for exactly how to handle any type of health situation.
Ultimately, getting your estate documents in place early means you don’t have to worry later on. To learn more about drafting these key documents, work with the estate planning attorneys at BaumannKangas Estate Law. in Florida.