Everyone, no matter at what phase of life you may be in, should seek the guidance of an estate planning attorney. There is a common misconception that estate planning is only needed towards the end of life, but really, estate planning is needed at all phases of life, because we never know what life has in store.
While the kind of estate planning someone may need may change throughout the different phases of life, it’s best to be prepared at all times. Careful planning can help avoid family disputes, needless expenses, time in court and unnecessary taxes.
It can also ensure someone has the ability to help care for you or ensure your affairs are taken care of in the event you are unable to do so yourself. Often we see clients coming to us at a time when earlier estate planning would have been very beneficial to their situation, saving them thousands in court costs.
Estate planning often consists of discussions of power of attorneys, wills and living wills. Our office can help guide you on making important decisions about who should handle your affairs if you cannot, who should distribute and inherit your estate in the event of your decease, as well making it clear what kind of medical care you would or would not want in the event you face a terminal illness.
Estate planning can also include discussions about trusts, life insurance, retirement, and even who should care for minor children in the event a guardian needs to be appointed for them.
Advance planning is key and we are here to help to ensure your estate plan is ready to go no matter what life has in store.
If you have any questions about the topic discussed in this article, or any estate planning matter, please give us a call at Bononi & Company 724-832-2499.