Although we all expect the best in 2014, it is always good to prepare for the worst. Leaving loose ends when it comes to your estate can lead to family fights and expensive legal bills. Spare your family by being prepared. There are three documents that are absolute musts:
- A will
- A durable power of attorney (for finances and other personal matters), and
- A health care proxy (known in other states as a “power of attorney for health care”)
Some people may also find it beneficial to have a revocable trust. If you own own property in more than one state, for example, this would allow you to avoid probate in each of those jurisdictions.
"That's easy enough," you say. "I can just find all the forms I need online, right?" Well, you can, but it's not a good idea. Only a lawyer can truly assess your needs and give you a global evaluation and documents tailored to your circumstances and situation. Although a “kit” may be cheaper on the front end, it could cost you and your estate and heirs many, many times more than that when the documents are challenged in court and ultimately held to be ineffective, void, or construed in a manner contrary to what you intended.
