THE LEARNING CENTER
Estate Planning To Secure Your Wishes & Make Your Life Easier
Estate planning doesn’t have to be complicated or overwhelming. Our learning center is here to support you in confidently taking your next step toward the peace of mind of a protected future for yourself and your loved ones.
What Is A Will?
A Will is your simple instructions to tell the court who will get the assets you own after you die and who will ensure it gets done (your Executor). It has no authority until after death. It is a way for you to lay out your final wishes for your possessions, dependents and arrangements. More importantly, if you do not have a Will, the state will dictate who is in control of your assets and the distribution process.
In a Last Will and Testament you can name someone you trust as executor to manage your estate after your death. If you are a parent with minor children, you can name guardians to care for your children after death.
What is a Health Care Directive?
A Health Care Directive is a legal document that authorizes someone to make your health care decisions for you in the event you are unable to. These decisions usually relate to life and death. A Health Care Directive allows you to name the person you want to make healthcare decisions on your behalf if you become incapacitated or unable to make decisions on your own.
What is a Power of Attorney?
Power of Attorney is a legal document that authorizes another person to handle your legal or financial matters on your behalf if you are unable to do so yourself due to lack of capacity. It essentially gives another person the right to sign your name. Having a Power of Attorney is essential as without it, your family may be required to file a legal proceeding seeking guardianship.
Understanding Probate
Probate is the process of going to court after someone passes away, to distribute their assets. The process is a bit different depending if you have a Will or not. It is very important to have a Will. The court gets involved to make sure the Will is signed properly, it names someone trustworthy to be your Executor, and makes sure debts are paid and then the rest of your stuff is distributed to your beneficiaries. Most people don’t realize your Executor cannot act until they are properly appointed by the court. If you don’t have a Will, the court decides who your Executor will be, and even who gets your stuff! If you have minor children, the court also decides who will take care of them after you’re gone, if you did not have a Will naming guardians. Probate is the process to get all of these things handled after you’re gone.