What is Estate Planning?
Today I want to talk to you about the first top secret question of successful estate planning… what is estate planning?
Hello. I’m Gary DeWitt from DeWitt Law Firm. We do estate planning. We do probate. We do it well.
If you have questions about this or anything else you can book a time to talk to me over the phone or in person, for free, by going to http://www.PlanWithGary.com.
Estate planning is the process of arranging for care of your affairs and the disposition of your final estate.
Most people think of estate planning as nothing more than deciding how to distribute their final estate.
This part is handled with a Last Will and Testament or a Trust.
Or, if a person chooses not to plan, the state’s plan, “intestate succession” is used instead.
The second area is rarely though of until it is too late.
It is managing your assets and affairs in case of mental incapacity or disability.
We are living longer than ever. Unfortunately, for many folks, their body is outliving their mind.
Estate planning is about protecting your assets, dignity, and rights during your lifetime.
This protection comes in two parts.
The first part is arranging for protection and management of your assets during your lifetime when you can’t manage your assets yourself.
The second part is arranging for managing your healthcare during your lifetime when you can’t make healthcare decisions.
The documents you need are:
- A Healthcare Power of Attorney
- A Durable Power of Attorney
- A Living Will (Advance Directive)
- Authorization for Release of Protected Healthcare Information (HIPAA Waiver)
If you have questions about this or anything else you can book a time to talk to me over the phone or in person, for free, by going to http://www.PlanWithGary.com