Life is uncertain; you never know when your last day might be.
Estate planning helps to ensure that your property and belonging are dealt with according to your wish after you die. It also dictates your health care decisions if you become incapacitated.
Ensuring timely and effective estate planning is essential to eradicate any confusion and prevent matters from being taken to probate court after you pass away.
Here’s an ultimate guide to estate planning.
Last Will and Testament
Drafting a will is an essential part of estate planning. It provides clarity for your loved ones and prevents conflicts from occurring. A will includes the following:
- The distribution of your property
- An executor to handle your estate administration matters
- A guardian for your children
It is necessary to prepare an effective last will so your loved ones don’t have to go through the rough process of will contests in probate court after you pass away.
Living Will
A living will is a type of advance care directive that serves as a legally binding written version of your medical preferences. A living will dictates your choice of healthcare if you become incapacitated due to an accident or underlying health condition. It also dictates when you want to be removed from life support and whether you want any of your organs or tissues to be donated if you pass away.
Durable Power of Attorney
A power of attorney document lets you appoint an agent to make legal and financial decisions on your behalf if you’re unable to do so. Appointing a durable power of attorney is an essential part of estate planning. A durable power of attorney allows an attorney to make decisions for you in the event that you become incapacitated.
Professional Estate Planning Services in West Palm Beach
DIY estate planning can be very overwhelming and complicated. Advance Tax Defense and Accounting is an accounting and tax relief company based in West Palm Beach. The company aids clients in preparing for all estate planning matters, including trusts, wills, power of attorney, and health care.
Other services include but are not limited to consulting, payroll management, advance tax and accounting, bookkeeping, business financial planning, and tax resolution services.
You can contact the company at (800) 909-5126 or drop an email at info@ataxdefense.com to receive a free consultation.
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