Estate planning can be slightly simple or more complex, depending on a person’s individuals needs and those of their estate. Most people feel more confident going through this process with the aid of an Estate Planning Lawyer in Bainbridge Island. Lawyers help their clients ensure each step is carried out legally and is sound so the documents will hold up in court and will fully settle what will take place upon the individual’s death.
What are the Steps Involved in Estate Planning?
When meeting with the Estate Planning Lawyer in Bainbridge Island, it helps for a person to be prepared for what to expect. No one wants to face such a significant process without being aware of what they will deal with. The following are the most important steps involved in the process of settling an estate.
The will needs to be drawn up first. This is a legal document that lists a person’s assets and who will inherit them. It is important exact names are given and the assets are listed precisely so there will be no legal confusion upon the death of the individual.
The lawyer will help their client determine if setting up a trust is in order. Setting up a trust can help to prevent loved ones from going through probate court.
A living will is important because it spells out a person’s wishes, should they become medically incapacitated and unable to make decisions for themselves. The living will lists the power of attorney and the health care declaration.
A durable power of attorney will need to be set up. This person is given the power to handle a person’s finances, should they become medically incapacitated and unable to make financial decisions on their own.
For those with minor children, a guardian and a trustee will need to be named. Sometimes, a single person is named for both duties and sometimes individuals choose separate people to carry out these duties.
Call Today For an Appointment
Estate planning is important, no matter a person’s age. Those who would like legal help in the process are urged to call and schedule a meeting with a lawyer.