If you have assets, you should have a plan for what will happen to them in the event of your death, regardless of your age or health. This concept is known as an estate plan. The plan includes who will receive your assets after you pass, as well as directions for your loved ones to follow if you become incapacitated. “Developing an estate plan that clearly states your wishes for your assets’ distribution and your last wishes can make the probate process much less stressful for your family in the future.” says Anne Desormier-Cartwright of Elder and Estate Planning Attorneys, PA. These plans have several elements, the most important of which include your last will and testament, your advance medical directive, beneficiary designations for your assets, power of attorney designations and a trust. Not every estate plan will include all of these elements so it’s important for you to discuss your specific needs with your lawyer to develop your ideal plan. Elder and Estate Planning Attorneys, PA is a law office small enough to provide personal service but large enough to handle all of your estate and planning needs.
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