Everyone needs estate planning services. Yes, everyone. That’s right, even you. Many people wrongly assume that estate planning is only for wealthy individuals. If you own any kind of asset, whether it be homes, bank accounts, stocks, cars, retirement plans, medicaid payments, etc., or if you have a dependent, then estate planning is a necessity for you. Estate planning helps you to not only plan for the inevitable end to your life but also unforeseen circumstances that could happen to anyone during their lifetime. What would happen if you became disabled today and were unable to work? What if you met in a serious accident and were placed on life support? Who would be able to legally make decisions for you? Is that the same person that you would want to make financial and health-care related decisions for you?
Furthermore, if you are responsible for a dependent in your life, you will need to plan for their care, if something should happen to you. Who would take care of your dependent? What is the extent of care needed by your dependent – health, financial, special needs, long-term care, etc.? Do you have enough money set aside for your dependent should something happen to you?
These are just a few simple questions that everyone should know the answers to before the situation arises. You can place these answers in a legal document, such as a Will, Power of Attorney, or a Living Trust. An estate planning attorney in your state can assist you with preparing the legal documents necessary to ensure that your wishes are followed. If you live in the Philadelphia or Montgomery Counties of Pennsylvania, then contact the Wilson McLean Law Firm for more information.