Estate Planning Answers From An Experienced Attorney
As an attorney focused on the areas of estate planning, probate and estate administration, I have had an up close view of the difference that having a proper estate plan in place can make when a person dies, not only for protecting their assets but for protecting their loved ones from stress and emotional anguish. This informs my belief that estate planning is for everyone – not just the wealthy or the elderly.
You probably have more questions than answers if you are considering estate planning. Read on for answers to some common estate-related questions, or contact me at Shattuck Law Office, LLC, to schedule a consultation.
Do Single People Need A Will?
No one is required to have a will. However, even if you do not have a spouse, children or dependants, there is a crucial reason to have a will: without a will, decisions about your assets and property will be left to the government. Having a will or trust provides an opportunity to direct your legacy. For example, you could leave money and assets to friends, family members or charities that are close to your heart.
I Have A Child With Special Needs. How Can I Protect Them?
You can use a special needs trust to set aside money to provide for the care of a child or loved one with special needs. This can provide you with peace of mind knowing that a cherished loved one will have the financial resources to receive the proper care when you are no longer there to look out for their interests.
Can I Put Someone In Charge Of My Health Care Decisions?
Yes. A health care power of attorney allows you to put a trusted agent in charge of your health care decisions in the event you are incapacitated.
Can I Give An Adult Child Control Over My Finances?
Yes. A power of attorney can be used to put a trusted agent – such as a child, friend, family member or attorney – in charge of your legal and financial decisions in the event you are incapacitated or no longer of sound mind. A conservatorship can provide a similar outcome, but the process for establishing it is much more complicated. Ideally, a power of attorney will be filed along with your will as part of your estate plan.
How Often Should A Will Be Updated?
Any major life change – marriage, the birth of a child, significant change in assets, divorce, etc. – should also serve as an opportunity to review your estate plan to make sure it still reflects your situation and your goals.
Get Started Today
It is never too early to start planning for your future. Call my office at CALL or send me an email to schedule a consultation. With offices in Ashland and Greensburg, Kansas, Shattuck Law Office, LLC, helps clients throughout Clark and Kiowa counties.