When someone gets sick or injured, loved ones often carry the financial burden and take on roles as active caregivers. In many cases, getting a will and having a plan with your health care attorney can help to mitigate some or all of the costs that would otherwise fall on your loved ones. These are the three areas where the right attorney can help to prepare for the legacy you will ultimately leave behind.
Power of Attorney
Power of attorney is much easier to set up with your health care attorney prior to when it is needed. By appointing someone with the power of attorney, you are ultimately handing financial and legal control over to a trusted friend or loved one. Nearly 38% of adults have a plan set to give another power of attorney should they become incapacitated and required to make healthcare decisions.
Life Insurance and Estate Planning Services
Taking out a life insurance policy on yourself allows you to better plan for your family’s financial future. Nearly 74% of Americans have some kind of health insurance that pays out cash to the deceased’s beneficiaries. One’s estate is another thing to consider when planning for the future. In many family cases with no will, the second-to-die spouse’s family will inherit all of their common estate while the first-to-die spouse’s family receives nothing. Make sure your family gets their inheritance, hire a probate lawyer and get a will today!
Wills
Nearly half of all Americans between the ages of 55 and 64 do not have any kind of will. Generally, 64% of Americans have no will at all. A will helps you to prepare your family for life without you by distributing your assets and hopefully maintaining peace within the family. Many Americans have not made a will because there is rarely a convenient and easy way to set one up; 75% of Americans would create or update a will if there was a simple, valid way to do so online. Scheduling a visit from an attorney can result in a professional, legal will over several sessions to ensure that your family can honor your wishes in the case of a life changing event.