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Estate planning is the process of arranging for the management and disposal of your estate and assets during your life and after you pass away. Estate planning encompasses everything from wills and trusts to powers of attorney and probate. Get the facts on the best time to begin the estate planning process.
The Value of Estate Planning
Preparing for the future is smart for individuals of all ages. The truth is that we do not know when we will become unable to make decisions or provide care for our loved ones. Creating an estate plan ensures your assets are handled according to your wishes and your loved ones receive the care they need if you become incapacitated and after you pass away.
Having an estate plan can help your loved ones answer the following questions:
Who do you want to look after your children if you or your spouse are unable to?
What do you want to happen to your belongings or valuable assets, such as your home?
What do you want to happen if you need medical treatment and cannot communicate your wishes?
Who do you want to appoint to oversee larger medical or financial decisions on your behalf if you are unable to do so?
If you pass away without an estate plan, the state you live in will distribute your assets according to intestate succession laws. This often leads to a time-consuming and expensive court process for your loved ones.
At Walker Lambe, our Durham estate planning attorneys can help you with wills, trusts, powers of attorney, probate, elder law, and more. We’re here to work with you to achieve a solution that best suits the unique needs of your and your loved ones.
If you need help with estate planning matters, contact Walker Lambe, PLLC at (919) 493-8411 to speak with our team today.