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While thinking about your death might seem premature and even morbid, it can actually make things go much more smoothly after your passing. Instead of being left to sort out your affairs, your family will be able grieve and heal. Later, they will be able to focus on the celebration of your life instead of squabbling about money. From establishing a will to hiring an estate planning attorney in Greenville, SC, here are a few tips to help you start to prepare for your family’s future. - Make a will. A will can help to determine who you would like to inherit your property, possessions, and money. It also gives you the opportunity to appoint a guardian should something happen to you before they reach adulthood. A will can help to avoid disputes and family feuds that could occur after your passing.
- Choose your health care directives. If something should happen to you where you are unable to make medical decisions for yourself, you need to have a health care directive in place. This allows you to appoint someone that you trust to make these vital decisions for you. It can also allow you to declare what you would like to happen in specific medical instances.
- Establish a power of attorney. By setting up this part of your estate, you are giving the authority to a trusted person to make decisions involving your finances and property. This only takes place in the event that you can’t handle your own affairs. This could be a long term action or a short term action depending on what you have stipulated in your documents.
- Name your beneficiaries. If something should happen to you, it’s important that your bank and those holding your retirement funds know who should inherit the money. Naming beneficiaries allows your family to receive that money upon your death. This could be beneficial for stocks, bonds, and other accounts after your passing.
- Plan your funeral. Funeral expenses can be astronomical. For that reason, it’s important that you set money aside to pay for your services. This will avoid adding any undue burdens onto your family. Also, if there are any specific wishes that you have for your funeral, write them down and plan for them. This will take the guesswork out of planning it for your family.
- Invest in life insurance. Life insurance allows your beneficiaries to receive a sum of money upon your death. If you have a spouse or dependents, this can be life-saving. It can help to pay off debts and taxes, while still allowing your family to stay afloat after your death.
- Keep your documents in a safe place. Once you have established all of your wishes and wills, it’s important to keep them in an accessible place. This will give your family easy access to them upon your passing.
- Hire an attorney. By hiring an estate attorney, you are ensuring that all of the above steps are legally recorded and noted. Plus, your attorney can help you to work through details that you may not have thought of. With a professional on your side, the proper paperwork will be filed and filled out in the correct way.
Preparing for your future doesn’t have to be scary or morbid. In fact, it is one of the wisest things you can do. Hiring an estate planning attorney in Greenville, SC, can give your future some certainty. Not only will it give you peace of mind, but it will allow your posterity to have peace of mind as well. With your estate all planned, there will be no battling over possessions or money with the careful preparations you have taken ahead of time.
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