You Know You Need One – But What is It?
Simply put, an estate plan is a set of instructions. These instructions explain what will happen to your possessions after you die. But estate plans aren’t only for when you die; they can also to leave instructions for what happens if you are in a coma, disappear, or become incapacitated. When you have an estate plan, YOU are in charge of the following decisions:
- How your money is used
- Who makes health care decisions about you if you can’t make them yourself
- Whether or not you should be disconnected from life support
- Who raises your minor children if you are unable to do so
- Who receives your financial assets and personal property
Fortunately, YOU can make all of these decisions and preserve a lasting legacy for your heirs if you take the initiative and create a strong estate plan.