Many people don’t like to think about the day that they will no longer be here but it is important to consider it, especially if you have amassed quite a few belongings. There are a number of ways that you can ensure that those belongings get cared for properly. In some cases, a last will and testament is all that is needed. In other cases, you may need to hire Fort Lauderdale estate planning attorneys.
There are certain benefits to going through estate planning rather than simply filling out a will and then legalizing it. To be certain, having a will may be part of the estate planning process but that is not always going to be the case. In some instances, it may be beneficial to choose other options. One of the reasons why that is the case is because of the probate process. There are some ways to avoid the probate process and one of those is having a revocable living trust. You may also want to have your assets in joint ownership or perhaps make gifts while you are still alive.
You might also need to consider the possibility that you will need cared for and will not be able to handle your own affairs while you’re still alive. There are many different reasons why you could become incapacitated and if that is the case, you would want to have everything in order in advance. For example, it may be necessary for somebody to make financial decisions for you and this can be done with a power of attorney. There is another type of power of attorney that is specific to health care. A power of attorney can also be combined, but it is typically separated for many reasons.
Something else that the Fort Lauderdale estate planning attorneys can assist you with is caring for your minor children in the event that something should happen to you. It is important for you to have this established in advance so that the transition, if necessary, is smooth.
Is it possible to do this on your own? It may be possible to do much of it but having an attorney ensures that everything is done properly and that you’re not going to run into any problems at some point in the future. It’s a factor that you should not ignore.