If you’re like me creating an estate plan has been on the to-do list for years but is continuously pushed aside and replaced with more exciting and urgent tasks. Last month I was referred to an excellent lawyer and decided it was time to complete this project and check it off the list. Much to my relief, the process was smooth and far simpler than I had imagined all these years. In comparison, it was about as much work as becoming a BAM client.
Why should everyone have an estate plan, no matter their age, marital status, or income? Estate planning isn’t just about transferring your wealth or planning for your family. It helps you establish your medical preferences and assign both a medical power of attorney and a financial power of attorney to act in your best interest and in accordance with your wishes. In addition, you can designate beneficiaries to receive your assets and/or personal belongings without going through probate court. I elected to work with a local and referred lawyer because I value the assistance of a skilled professional, but there are also step by step online services for estate planning. Explore the various options available and ask your family/friends for referrals if it’s on your to-do list as well.
Photograph by Gabrielle Henderson
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