4 Common Things That People Forget to Do When Creating Their Estate Plan

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by: TravisLawCA
Word Count: 2415
Date: Thu, 9 Jun 2011 Time: 7:48 AM

If you’re just now beginning to think out your estate planning needs, you may want to take a look at some of the common things that people forget to do when creating their own estate plan.  Take a look at some of the information below, to learn more.  If you have any questions about how to begin your estate plan, set up an appointment with an estate planning attorney.

• Only creating a will when other estate planning documents are just as important.  While all people benefit from the use of a will, it is not the only estate planning document to consider.  With a will, only some of your needs will be met.  It’s important to explore all aspects of planning with your estate planning attorney.
• Forgetting a Heath Care Power of Attorney.  If you’re ever seriously ill and incapacitated or unconscious, you need to make sure that your medical wishes are respected.  With the use of a Health Care Power of Attorney, you can outline all of your important medical treatment and procedure beliefs ahead of time.  If you become incapacitated, the wishes outlined in your living will are followed.  This is especially important for your end-of-life medical wishes.
• Not having enough money for the care of your family after your death.  Have you taken the time to purchase adequate life insurance?  Now is the time to make sure that your have enough life insurance coverage.  If something were to happen to you, you likely will want to make sure that your family is able to pay for daily living expenses as well as cover past debts.
• Forgetting to consider powers of attorney.  A financial power of attorney and power of attorney for healthcare can be extremely beneficial.  If you were to become incapacitated, the people who you name as your agents (without court intervention) would be able to help manage your finances and help make important healthcare decisions.  You want someone who you trust to help in this type of situation, and you will need the right plan in place to make this all happen according to your wishes. 

Make sure that you have a plan which includes all of these documents at a minimum so that you are always protected.  If you have any additional questions about your estate planning needs, consult with a qualified estate planning attorney.

About the Author

Experienced estate planning attorneys Long Beach CA of The Law Offices of H. Brooks Travis, PC. offers estate planning and business planning resources to residents of Long Beach CA. To learn more about these free resources, please visit www.estate-planning-orange-county.com today.

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