Articles Posted in Living Will

Only old, rich people should worry about estate planning. Estate planning is so simple that you can do it yourself. Estate planning is intimidating. There are a number of misconceptions out there about estate planning. While you may have had these thoughts cross your mind in regard to estate planning, it is important to learn the facts about what estate planning is and why you should not wait.

In its most basic form, estate planning is a set of legal documents that instructs others regarding your care and assets if you are not able to speak for yourself. These legal documents may include a will, a living will, appointment of a health care agent, power of attorney, and others. Each of these documents serves a different purpose but they all direct or empower another person to make decisions on your behalf regarding your assets, your care, or even the care of your minor children. In other words, they say who is in charge and this is what I want to happen. While this process may seem scary, estate planning can be quite empowering.

Many people may hear the phrase “estate plan” and automatically think that this only applies to those with money. However, “estate” is just a legal term for anything that you own. Whether you are single, married, divorced, remarried, have siblings, have kids, or anything else you can still benefit from an estate plan. Developing an estate plan can ensure that you are prepared for anything that may come about.

As a Tennessee Probate Lawyer I have learned over the years that some simple planning can really save families from a lot of unnecessary stress and costs.  I will admit, having a Last Will and Testament or a Power of Attorney drafted doesn’t sound like a ton of fun but it really is easy and relatively inexpensive.  It is just one of those things that we all tend to put off.  Well don’t!  Get it done and your family will thank you.  Recently, I gave an interview about the importance of some simple estate planning.  You can watch the interview below.

 

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