Wealth transfer can be protected from excessive taxation by applying tax avoidance principles. Still, it…
Make this new year’s resolution to meet with your friendly elder law attorney, to make sure your estate plan is in order. This pandemic is not done with us yet, unfortunately. Of course, we hope you don’t get sick, but if you do become so ill that you can’t speak for yourself, it’s extremely important to have your papers prepared in advance. You will be appointing a person who is close to you, to whom you will have given your permission to talk to your doctors about the treatment you want. You can also choose a trusted person to pay your bills, while you’re focusing on getting better. These papers – powers of attorney – are powerful, if done the way we do them because they have effectively put your arrangements in place before an emergency strikes.
The best idea is to talk, in advance, with the health-care person you appoint about the kind of treatment you would want and the treatment you might decline. If you or somebody else has access to the internet, look up “The Conversation Project.” That website is full of guidance. The founder says it’s all about “what matters to you, not what’s the matter with you.”
And if the worst happens, you will have organized your property and directed whom you want to get what when you pass. That will save your heirs a lot of time and money.
There’s just one thing about new year’s resolutions. They’re easy to make but much harder to keep. Fully one-third have already failed by the time February rolls around.
This is too important for that to happen. Be resolved, and then follow through right away. Contact our Guntersville office at 256-486-3407 for an appointment now, to make sure you have the best and most-effective plan in place before you need it.