We hear it all of the time — Only rich people need a will.
This is a common misconception to say the least. Sure there are degrees to estate planning. And, yes, those degrees can depend on the extent of the assets of one client versus another. However, when you are thinking about your assets and your family, it really should not matter what other people do, frankly. The ultimate determination should be based on your answer to the following question: Who do you want making decisions regarding the guardianship of your children, distribution of your assets and/or end of life care?
If you answered anything other than “the government,” then you should talk with an attorney about setting up a few documents. At Giordano, DelCollo, Werb & Gagne, LLC, our process is simple. Our goal is to help clients set up three basic, but very important documents: a Living Will, a Power of Attorney and a Will. In order to do this, we begin by offering each client a questionnaire which they can review at home with their loved ones. This gives clients an opportunity to contemplate often weighty decisions with those closest to them. Once this questionnaire is returned, one of our attorneys will review the document and our office will reach out to schedule an in-person consultation.
Your Living Will and Power of Attorney are there to protect your interests while you are still alive. For example, through your living will, you will designate someone to make medical decisions on your behalf if you should not be in a condition to do so yourself. Through your Power of Attorney, you will designate someone to make financial and business decisions on your behalf if your condition does not allow you to do so. Your Will takes effect upon your passing. Here, you will determine who will get your assets. You will also name a guardian or guardians for your children. You will also choose an executor to probate your Will upon your passing.
All of our efforts during this process are aimed at ensuring that your wishes are met in full. If you have any questions about setting up a Will, Living Will or Power of Attorney, please call our offices today.