Since life can be unpredictable, it’s wise to plan for different scenarios, including marriage, purchasing a home, and end-of-life preferences. If you want to protect loved ones in all eventualities, create a comprehensive estate plan. Getting started may seem overwhelming, but an estate planning attorney will guide you through every stage of the process. In the meantime, here are the answers to some questions about creating an estate plan. 

A Guide to Estate Planning 

When should I start estate planning?

Since you can modify your last will at any time, it’s never too early to start estate planning. Some people use major life milestones such as getting married or having children as motivation to put their affairs in order. In reality, though, every adult should make arrangements as soon as possible. Planning ahead will relieve loved ones of a considerable burden, should anything happen to you. 

Which documents should be part of my estate plan?

Generally, there are a few critical documents everyone should create. These include a last will and testament, a living will, and a financial power of attorney (POA). The primary purpose of a last will is to distribute assets among beneficiaries and establish guardianship of any minor children. In a living will, you state any wishes regarding end-of-life care. Living wills are typically accompanied by a healthcare POA, which gives someone the authority to make medical decisions for you. A financial POA, on the other hand, lets someone else manage your finances, should you become incapacitated. 

Do I need a lawyer?

Since your family’s financial security would be at stake if something happened to you, seeking professional guidance is essential when drafting the documents mentioned above. An estate planning attorney will ensure the terms of all documents are unambiguous and legally binding. This will help mitigate disputes during probate and ensure loved ones receive their inheritances as swiftly as possible. 

What would happen if I died without a will?

If something should happen before you create a last will, it will complicate things for surviving family members. Additionally, there is no guarantee that those whom you would have named in the documents will receive anything. When someone dies without a will, the laws of intestate succession apply. These laws vary by state but generally award most of the deceased’s property to immediate family members; however, probate can become complicated if the deceased was divorced or had children with multiple partners. 

The estate planning attorneys at Greene Law PC can answer your questions about wills, trusts, and probate, and then help devise arrangements that are in your loved ones’ best interests. Located in Farmington, CT, this law firm has been serving clients throughout Hartford County for the past 25 years. In addition to estate planning, they assist with bankruptcy, personal injury claims, family law, business strategies, and real estate transactions. To schedule a free consultation with an estate planning attorney, call (860) 676-1336. To read more about their services, visit their website.