Estate Planning: Wills and Powers of Attorney

At the heart of estate planning is one simple question, what are our wishes? Estate law addresses this question both when we are alive, and when we have passed away.

Under normal circumstances, we can make our decisions known so that the question of what our wishes are is not an issue. Unfortunately, accident, illness, or disease can render us incapable of making our decisions known. A power of attorney is a means by which we can ensure that our wishes are met in such a situation.

A power of attorney allows you to appoint another individual to act for you should you be found incapable of acting for yourself. When we are incapacitated, difficult decisions must be made that can directly affect our quality and even duration of life. By establishing beforehand who you wish to make those difficult decisions on your behalf, you can ensure that the results match your wishes.

The other half of estate law addresses the issue of making our wishes known once we have passed away.  When that inevitable day happens, we all leave behind an estate. While we may not be around to see what happens to that estate, we can still ensure that the people we love will benefit from it.

Good estate planning, however, is more than just writing a will. It requires careful thought about who will execute the will, what decisions you will ask your executor to make and how to deal with events you never dreamed would arise. A well planned estate ensures that once we pass away, the difficult decisions will have already been made.

No matter what your financial means, it is important that you plan for what will happen to your estate. A poorly planned estate can divide families during an already difficult time. A well planned estate can ensure that you will be remembered for your legacy, not for how difficult it was to settle your estate.