You might think you’re too young to even consider making an estate plan, but it’s never too early to provide for your future and the security of your loved ones. Read on for some ideas about how to do this.
Make a Will
A will allows you to designate who will inherit your house, money and personal property. It can also specify a guardian for your minor children if you have any. There are different types of wills, so do some research to discover which one best fits your situation. You will need to choose an executor who will carry out the provisions of the will and sign your will before two witnesses who are not named in the will. Most states require those witnesses to sign the will as well.
Designate a Power of Attorney
You should also consider designating someone to serve as a power of attorney in case you cannot manage your own affairs at some point. You might select a healthcare power of attorney who will carry out your wishes with regard to medical decisions, a financial power of attorney or both. The same person can do both, or you can choose two individuals. Make sure whoever your choose is willing to accept this role, and if so, go over your healthcare directives and financial situation in detail with him or her.
Make Funeral Arrangements
You can save your loved ones some time and money by making funeral arrangements ahead of time. You can even set up an account at the local funeral home to pay for all or part of your funeral when the time comes.
Get Help as Needed
Finally, get some help as needed. Talk to a lawyer who specializes in general estate planning San Diego CA to make sure that you’ve covered all your bases. Your lawyer can double check the legality of your documents and point out anything else that needs to be done.
While planning for the future might be difficult, it will make life easier for your loved ones in the long run.