The Essentials of Estate Planning

the-essentials-of-estate-planningEven those with little assets can benefit from end-of-life planning, which involves so much more than just writing a will. Unfortunately, it is impossible to know when we may pass away, and a little forethought now about your wishes for when you have passed can provide you with peace of mind and spare your loved ones so much hassle later on. In this blog post, our team at Grover Law Firm gives you some tips on estate and end-of-life planning.

#1 Gather Important Documents and Contact Information

Documents such as vehicle titles, official certificates, property deeds, and the contact information of your wills and estates lawyer in Calgary, along with contact information for your doctor and insurance broker, are all documents that need to be gathered and put in a safe place.

#2 Write a Last Will and Testament

A will is essentially the most important estate planning document you can have because it outlines where you would like your property to go after your death. If you do not make a will, you leave your belongings and what happens to them up to the general laws of your province, and they may not make the same choices that you would.

If you need help writing a will, our team of will lawyers near you is happy to walk you through the process. You will need an executor who will handle the distribution of your estate and a legal guardian for any children and animals.

#3 Establish a Power of Attorney

A power of attorney allows you to name someone you trust to be in charge of your decisions if you become incapacitated. You may choose to name a separate power of attorney for medical and financial decisions. Your health care power of attorney will work to ensure that your wishes for medical treatment are followed.

#4 Make Copies and Safely Store Your Documents

Once you have gathered all of the necessary documents with the help of an estate litigation lawyer in Calgary, make copies and store them all in a safe place, such as in a safety deposit box or a fireproof safe in your home.

Ensure that at least one other person knows where these documents are and can access them after you pass away.

#5 Speak to Your Loved Ones

Getting everything down on paper is an excellent starting point for estate planning, but speaking to those you love and trust about your wishes is even more important. The clearer they are about your wishes, the more likely it is that your wishes will be followed, and the fewer issues and stress they will have because they won’t have to make wishes about your intentions.

This conversation doesn’t need to be dark and grim, estate planning is a necessary part of life, and you can use this time to speak to them about your life and memories.

Visit Grover Law Firm

If you are interested in learning more about the necessities of estate planning, please do not hesitate to contact our team of dedicated real estate litigators near you. We are happy to walk you through the steps of estate planning to ensure that your final wishes are established and acted upon. Please contact us to book an appointment today.