If you don’t plan your estate, the government may do it for you – and that would be very bad news for your family. If you want control over allocating your assets when you’re gone, you need an estate planning attorney in Connecticut, or your local area. Your attorney will advise you on how to move forward and put a plan in place that will ensure all of your last wishes are followed. The main areas to consider when putting together your plan are:
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Living Will
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Guardianship for minor children
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Power of Attorney
Will
A will specifies who you want to inherit your assets. Typically, children and spouses are named, but you can appoint anyone you wish to have the things you care most about. Cars, real estate, trust funds, etc. are typically the types of assets you can divide between your loved ones. You’ll also need to appoint executors of your will; these are the people who will ensure your wishes get carried out according to your plan. Most people appoint two executors.
Living Will
This provides specific medical instructions on your behalf in the event you become incapacitated and cannot convey them yourself. This will list medical care you want and don’t want.
Power of Attorney
A power of attorney is the person you appoint to take care of your financial affairs in the event you become incapacitated and cannot communicate your thoughts on your own behalf. It’s important to note that a POA only makes decisions while you are alive. Upon your death, the executors’ roles become active.
An estate planning attorney in Connecticut will help you create the necessary documents so you can have peace of mind knowing your assets go to the appropriate recipients, including charities if desired. This can decrease the risk of family strife and tension.
