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Home » Estate Planning » 4 Estate Planning Tools to Consider (part 1 of 2)

4 Estate Planning Tools to Consider (part 1 of 2)

July 21, 2011 by John Potter

When beginning your estate planning affairs, you may have a hard time deciding on the best planning tools. The differences between documents can be confusing, as well as how your plan will work. However, your estate planning attorney will guide you.  Below is a discussion of basic estate planning tools that most people need.

 

  • Create a will

Everyone, age 18 or older, needs his or her own will.  A will is key to keeping you in control even after you’ve died and ensuring that your wishes are carried out.

For example, you appoint an executor to settle your estate and handle last affairs; guardians to raise your minor children; and property guardians to manage the assets you leave for minor children in your will.  In addition, you describe how you would like your assets distributed in your will.

  • Create power of attorney documents

When creating your estate plan, it’s important to have lifetime emergency planning in place.  Estate planning is not just about death.

If you’re ever incapacitated and unable to make your own decisions, you need proper legal documents in place to protect yourself and avoid court interference. With the use of a financial power of attorney and a power of attorney for healthcare, you can ensure that your affairs are always in order with the help of trusted helpers.

With a financial power of attorney, you can appoint an agent who will be responsible for managing your finances and making financial decisions, when you’re unable to.  This will ensure that your finances are always in order during your time of need.

Using a power of attorney for healthcare, you can appoint an agent who will be responsible for helping to make medical decisions on your behalf when you are unable to do so yourself.  This will allow you to receive the best medical attention possible and get the medical help that is needed.

Please take a look at our next blog post (part 2 of 2) to learn more about some helpful estate planning tools.

 

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John Potter
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Filed Under: Estate Planning Tagged With: Estate Planning Documents, Estate Planning Tools

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Overall The Potter Firm was very professional. They took what could of been a very complicated process and were able to break it down so it was a lot easier to understand. We are confident we now have made the right decisions in our estate planning. Good firm to work with.

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John Potter has been a real pleasure to work with. He is very knowledgeable and explains things in a very simplistic manner so the average person can understand how/why the laws are written. He is very attentive and asks questions in such a way that not only helps him understand your goals, but also helps you think about what type of goals and expectations you should be considering. Exemplary client service.

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My husband and I selected Ms. Potter to assist with our small business. She responsive and attentive every time I have a question or need assistance, and is extremely knowledgeable and able to answer any legal question I have had. I know I can count on Ms. Potter for all of my business legal needs and I would highly recommend her to anyone needing legal assistance with such.

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