How Well Do You Sleep Without Your Property Protected?

Posted by on Nov 13, 2017 in estate planning |

When you think of November, you probably think of turkey, football, the upcoming Thanksgiving holiday, and more. But, what you may not realize is that November is National Sleep Comfort Month. During this month, people talk about and discuss ways to improve their sleeping. Without an adequate amount of sleep, a person can experience some negative ramifications that affect their whole life. To sleep well, you need to not feel stressed. And there’s nothing more stressful than risking your property.

Luckily, we can help. Protecting your property is a good way to reduce stress and ease into the month of November with a good sleep pattern. With an estate plan, your property will be protected, giving you peace of mind.

How Does Estate Planning Protect Your Property?

You may be wondering how exactly an estate plan protects your property, as it’s not as though it’s a security system or guard dog. But an estate plan actually is one of the greatest protections you can have.

Estate planning is the process of putting together a plan for where your property will go after you pass on. That’s not the only function of an estate plan, however. An estate plan also allows you to have a trusted individual make healthcare decisions for you in the event of a crisis. A similar trusted person makes decisions for you financially with the “Power of Attorney” estate planning tool.

If you don’t get together an estate plan, you will be looking at some serious risk to your property in the form of probate.

Property’s Downfall: Probate

If estate planning is your alarm system, think of probate as the burglar that the alarm system is designed to stop. Probate court is the legal process of passing on the property of someone who dies without an estate plan. Just having a will is not enough to get you out of probate court.

Probate is costly, time-consuming, and all-around miserable for your family. The court takes your property and divides it how it sees fit. Your property might even go to the state, which will sell it. This unappealing result is what happens if you don’t create a plan for what will happen to your property after you die.

Morbid though this conversation is, it’s important to think about, and it does have a positive upside: with estate planning, you can avoid the doom and gloom of probate. You’ll be able to sleep easy knowing that your property is protected and secured. Schedule an estate planning consultation today!

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Fall Back On Your Estate Plan

Posted by on Nov 6, 2017 in estate planning |

Sunday, November 5th was daylight savings time! Who doesn’t love the extra hour to sleep in? With daylight savings time, there are tons of different things you can do with your extra hour. Sure, you can pick to watch an extra episode or two of your favorite show on Netflix, but you can (and should) switch it up this year and do something that will benefit your future and your loved ones’ future for years to come: estate planning.

Schedule an estate planning consultation! Use your extra hour wisely, and you will be able to see the long-term effects of such diligent planning. In this article, we’ll tell you a little about what to expect from your estate planning consultation, as well as extra information about some main points to know.

The Consultation

When you go to your estate planning consultation, the discussion is going to focus on your needs and the needs of your family. However, as with anything, you might want to brush up a little on the topic before you go to the consult.

There are a variety of different estate planning tools such as wills, trusts, powers of attorney, health care surrogates, and more. Here is a brief overview of the major terms to know.

Estate Planning Cheat Sheet

  • Wills are a little different from estate plans, but they are important to know about anyway. Wills go into effect when you die. Wills direct who will receive your property after death. Wills don’t actually help you avoid probate; that’s not how you dodge that bullet. The only way to avoid probate is through estate planning, which is covered in the next three points.
  • Trusts go into effect once you create them. You don’t have to be dead, as with a will. A trust minimizes estate taxes. It is a right in property that is held in a fiduciary relationship by one party. The trust benefits the other party. This second party is known as the beneficiary.
  • Powers of Attorney. Your power of attorney acts on your behalf in financial matters if you are unable to take control of your matters for yourself. A power of attorney is a good way to make sure that you can have someone responsible taking care of your finances.
  • Healthcare Surrogates. A healthcare surrogate makes healthcare decisions on your behalf if you are unable to do so. Much like your POA, you want to make sure that your healthcare surrogate is responsible and knows what you want. A healthcare directive, to distinguish the two, is a written order that tells the doctors and hospital managing your care what you want to have happen if you are incapacitated.

With your extra hour, how will you spend it? For one of the days, you can use the extra hour to schedule an estate planning consultation and ensure that you have control of your future (then, of course, you can use the other days’ hours for Netflix, naptime, and relaxing).

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