Estate Planning |<\/a>\u00a0Estate planning is important regardless of your age or state of health. Life is unpredictable. If something happens<\/p>\n to you, and you have no estate plan, your loved ones will have to sort things out. This can create problems and<\/p>\n legal expenses for family members that can be avoided if you have an estate plan in place.<\/p>\n What Should Be Included In A Will<\/strong><\/p>\n Your estate plan should include instructions for your loved ones should you become unable to make decisions for<\/p>\n yourself. A living will and power of attorney should be created so your family can honor your final requests. You<\/p>\n should name beneficiaries for all investments, insurance policies and retirement accounts. You might also wish to<\/p>\n designate someone to handle your estate after you pass.<\/p>\n When To Consult An Estate Planning Lawyer<\/strong><\/p>\n Not everyone needs a lawyer to plan their estate. However, there are certain conditions under which the help<\/p>\n of an attorney would be best:<\/p>\n o Your estate exceeds $1,000,000.<\/p>\n o You have substantial debt and want to protect your assets from creditors.<\/p>\n o You have children from multiple partners.<\/p>\n o Your estate is subject to taxes.<\/p>\n o Your estate includes businesses.<\/p>\n o You have property in different states or countries.<\/p>\n o You have minor children, or your estate would be left to a minor, irresponsible person, or someone with a mental<\/p>\n illness.<\/p>\n When Hiring An Estate Lawyer Is Optional<\/strong><\/p>\n Online wills are fairly easy to prepare and can work out very well. Just remember that a will you’ve created yourself<\/p>\n can be improperly executed and not legally upheld. There can also be problems if you give an untrustworthy<\/p>\n person power of attorney over your affairs. Here are some situations in which you might consider an online will:<\/p>\n o You’re single, have no children or grandchildren, and your assets are minimal.<\/p>\n o You have no substantial debt, and you own no property.<\/p>\n o Your heirs are adults of sound mind.<\/p>\n A DIY will is better than no will at all. But if you want to be certain that your last wishes are honored, it’s best to<\/p>\n consult an attorney. Be sure to keep your estate planning information up to date. A good rule of thumb is to review<\/p>\n and update your estate information every year.<\/p>\n\n\n\n\n