Estate Planning Is Worth The Effort - By: Art Gib

People seldom want to think about the repercussions of their own deaths, but it's a grim fact that we will all go that direction some day. It's important to be prepared for any eventuality, and to have our affairs in order to prevent problems amongst our loved ones after we are gone. Whether we die young or live to a ripe old age, the issues for heirs remain the same. The best idea is to retain an attorney to determine which documents you need, and to ensure they are drawn up properly.

-- Wills: A will is the most basic of all estate documents; it delineates which persons or entities may receive your property, money, and other assets at the time of your death. A will is especially essential for people with minor children, since it often specifies who should become the young ones' legal guardian. A will also names an executor of the estate who will oversee all matters pertaining to the proper carrying out of the document's directives.

-- Advance health care directive: This document is essential for people of all ages in that it gives directions concerning your medical care should you not be in a position to do so. For example, if you become a comatose accident victim, a directive would state whether or not you wanted medical professionals to take extreme measures to keep you alive.

-- Power of attorney: In this document, one person (called an "agent") is given authority to act on behalf of and make decisions for you. Under a "durable" power of attorney, the agent is in charge as soon as you become incapacitated. As there are several types of powers of attorney, each with their own rules or limitations, it's important to consult with a lawyer to decide which kind may be best for your circumstances. Any power of attorney ends at time of death, however.

-- Insurance: Will your loved ones be able to get by financially in the event of your death? Getting a life insurance policy is one way to ensure that they will be able to stay in their home, pay for college, and meet other pressing financial obligations.

Two other types of insurance to consider are long-term disability and long-term care. The first will help pay expenses should income be cut off due to an inability to work. The second will help pay for long term care in a nursing home or assisted care facility should the need arise.

Having a will, advance health care directive, power of attorney document, and the right amount and type of insurance will give you greater peace of mind as you go about the busy ins and outs of daily living. Your dependents can also rest assured that their needs will be seen to should the unthinkable happen. To make sure everything is done correctly, it's best to obtain the advice and services of a well-qualified attorney.

About the Author

If you are looking for a quality law firm in San Diego whose attorneys can help you with your estate planning needs, contact Spencer Busby A Professional Law Corporation (http://spencerbusby.com/). Art Gib is a freelance writer.

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