There is no time like the present and that is specifically true in the world of estate planning. Although it is better to live a long and healthy life, it is always sensible to plan in advance to ensure your wishes are carried out as you desire.
Planning now is also important in the occurrence you become mentally debilitated. If you become debilitated, your estate plan will appoint a health care surrogate to assist in making medical care decisions and for the purpose of carrying out your end of life wishes. You can also set forth your wishes regarding the appointment of a pre-need guardian and for the purpose of making an anatomical gift. To know more about estate planning, you can also visit Estate Planning Law Firm in Alexandria.
Children and blended families are another reason why it is crucial to creating your estate plan now. Without a plan, your state's intestacy laws determine what happens to your assets. Additionally, when you have no plan, the court will determine what happens to your minor children and how their assets will be distributed.
It is always better to personally select those persons who should be responsible for the care of your minor children and the management of their assets. If you have a child with special needs, it is vital to consider a special needs trust. Be sure and work with a qualified estate planning attorney so they can assist you in making good decisions and answering the questions you didn't even know you needed to ask.