What is Estate Planning?
Simply put, estate planning provides a way for individuals and families to protect and distribute assets upon death. There are several components to an estate plan, which include wills, trusts, powers of attorney, healthcare directives, and more. Each of these documents are tools that you can use to ensure that your interests are protected should you become incapacitated, and that your loved ones are cared for after you are gone.
Why Is Estate Planning Important?
The primary objective of estate planning is to protect individuals, their beneficiaries, and their property. Although most people associate wills with estate planning, there is so much more to consider. For example, a comprehensive estate plan can help you plan for long-term care, qualify for medicaid, and prepare for unexpected health issues.
When done correctly, an estate plan provides a way for you to exercise your autonomy even when you are incapacitated. Moreover, an estate plan can help your family avoid probate and possible litigation.
Creating an Estate Plan in Myrtle Beach
The first step to creating an estate plan is to have a conversation with an estate planning attorney. Together, you can review your finances, property, assets, and personal belongings and determine how you wish for your estate to be distributed. Morveoer, you can discuss how you want financial and health decisions to made in the event that you are incapacitated by an accident, illness, or age.
From there, your attorney will help draft the appropriate estate planning documents in order to achieve your estate planning objectives. Of course, you can always update your estate plan should your circumstances or wishes change. Your estate planning attorney will be there to guide you through every step of the planning process.
Myrtle Beach Estate Planning Attorneys
Estate planning provides a way for you to protect your assets and ensure that your assets are distributed pursuant to your wishes. Regardless of age, health, or financial situation, you can benefit from creating an estate plan.
While creating a will is relatively simple, you should consult with an experienced attorney to develop an estate plan that meets your specific needs. Contact us online at Rountree Losee or call us at (910) 763-3404 today to speak with one of our estate planning attorneys.