Building a strong foundation at a young age can prepare you for unforeseen circumstances. A good financial planner will help you build an initial savings account and set up your first IRA and investments. Something you may not have considered, or thought was necessary, is a good estate plan.
The advanced health care directive gives others, a parent, sibling, or spouse, the authority to have knowledge of your medical condition in accordance with HIPPA laws, and to make health care decisions when you cannot. Additionally, a health care directive can tell the doctors what you want as end of life care.
A financial power of attorney allows an appointed agent to pay your bills and manage your finances when you are unable to do so. Having a designated person who can access your bank accounts, enter into contracts, and gain entry into your online accounts can be vital when you are hospitalized, or ill and prevents the need for a court appointed conservator.
Lastly, a Will provides for a clear plan for loved ones. If you are single, a Will assures that your assets go to family, charities, or friends as you wish. If you are married, a Will creates a streamlined way for your spouse to inherit without a great deal of court interference. Lastly, if you have children, a Will can leave everything to your surviving spouse. While many people believe everything passes to their spouse if they are married and pass without a Will, the law leaves everything to the spouse and children. A court appointed guardian will be named to represent the children during probate and can prolong the process. Additionally, assets needed by the surviving spouse may be managed under Court supervision for the children rather than being immediately available to the survivor. If both parents should pass, a Will also names a Guardian to assure the parents name who will raise and care for their children.
Our firm works with families and assets of all sizes. A good plan is never put in place too early and can serve as the foundation for your family as it matures and grows. Contact Grissom Law, LLC today at 678-781-9230 to schedule an appointment to discuss your needs.
Disclaimer
This Blog/Web Site is made available for educational purposes only. In addition, it is available to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.