Planning For Your Future And Your Legacy
Planning for your future is a serious matter. You not only want to secure the legacy you leave your loved ones; you also need to consider your own care and well-being as you get older. At Pearman Law Firm, P.C., our lawyers will carefully review your particular needs and circumstances, so we can provide you with an estate plan that meets your goals. We serve families of all income and asset levels in Wheat Ridge and other communities in the Denver metropolitan area.
What Is Included In An Estate Plan?
An estate plan consists of many individual components that work together to protect your health, your assets and your beneficiaries. Those components include:
- Will – This is the document most people are familiar with that describes how you would like your assets divided after your death.
- Living trust – You may put your assets into a trust to avoid the probate process and control how the assets are used after your death.
- Medical power of attorney – You can name an “agent” to make health care decisions for you if you are unable to communicate your wishes or become incompetent.
- Durable power of attorney – As you age, you may need assistance handling your finances. This document allows you to name someone you trust to help you.
- Advanced medical directive – Also referred to as a living will, this document states your wishes regarding extreme care if you are unable to communicate.
- Beneficiary designations – Many financial accounts and insurance policies allow you to name your beneficiaries for that account directly, rather than having to go through the probate process.
- Review of real estate – You should always have an attorney review the title to any real estate you own to make sure it will pass to your heirs the way you intend after you die, whether through probate, a trust, a transfer on death deed or joint tenancy.
Though many people do not like to think about aging or death, your family should know your wishes, and your estate plan can protect your assets should something happen to you. For more information about estate planning with Pearman Law Firm, P.C.