Benefits of Creating an Estate Plan
Some people put off estate planning because they don’t feel as though they have enough assets or because they’re young and in good health. The truth is, creating an estate plan early in life offers a few key benefits, including:
- Peace of mind knowing your family will receive your assets in the proper manner
- Resting assured that you have a plan for financial issues, such as taxes and debt
- Feeling confident that your healthcare needs will be taken care of should you experience a serious injury or illness
What Should You Include in Your Estate Plan?
Estate planning needs can vary greatly from person to person. However, most people can protect their assets and loved ones by including the following elements:
- Last will and testament
- Irrevocable or revocable trust
- Power of attorney
- Living trust
There are other essential factors to consider when developing your estate plan. For instance, you’ll need to name an executor for your will, which is the person that will ensure assets are distributed to heirs according to your wishes. Executors are also instrumental during the probate process, which can include many distinct steps.
Do You Need Help with Estate Planning?
For residents of Mesa, AZ, as well as outlying areas like Glendale and Paradise Valley, Walk-In Wills provides reliable assistance in a relaxed and stress-free environment. Thanks to our decades of experience, we can also provide guidance for more complex matters, such as Medicaid planning.