This month we are talking about wills and estate planning. National Estate Planning Awareness Week falls the week of October 18-24 this year so it’s a very good time to address this topic.
First of all, let me say this – I am not an attorney. Please contact an attorney for more information when it comes to estate planning and wills. I am just raising your awareness of this topic for your consideration.
what should be included in estate planning
There are 3 specific items involved in your estate planning.
Durable Power of Attorney
Advance Directive for Health Care
reasons to have a will
Everyone should have this important legal document
It gives peace of mind for the family left behind
You can leave an important legacy with gifts and/or donations
It’s your choice on how your estate is divided up or who gets what
If you have children under 18 you can appoint someone of your choice to care for and raise your children
You choose an executor to handle the estate
Reduces family disputes
Other suggestions to include in the planning of your estate:
Instructions for family pets
Instructions on what to do with your digital assets
Plans for a funeral or memorial service
caregivers of loved ones with dementia
I hope that your loved one with dementia has an estate plan already in place. If not, please contact an attorney specializing in estate planning as soon as possible.
In addition, I highly suggest YOU (as a caregiver) get one in place as well if you have not already done so.
I am just now getting around to starting the process of my own estate plan. Right now I am collecting information for the preliminary meeting with the attorney.
My decision has been made on how I want my assets split up and I have asked a family member to be my executor. There is still a decision to be made on my preference for life support and end of life care.
A lot of decisions and time are involved in coming up with an estate plan but a trade-off in the end for family members’ peace of mind and for you knowing that you have an end-of-life plan.