Estate planning is essential

Lucy

Make sure that important documents are easily accessible to those who will need them.

Among other things, an estate plan helps to distribute your assets when you pass away. If your children are under 18 at the time of your death, you can name your chosen guardian in your estate plan. Sometimes, all you need is a simple will, however, if your life and finances are complicated, then your estate planning will most likely also be complicated.

If you have done some estate planning in the past, it is important to keep your documents up to date. Adoptions, births, marriages, divorces, and other life changes can require updates to your estate plan.

Estate planning documents are very important, and should be carefully safeguarded.  It is very important that the individuals you name to handle your legal affairs know where you keep the original documents.  Often, it is helpful to provide copies and instructions to those individuals in advance.

Estate planning documents that you may need during your lifetime include your Power of Attorney for Healthcare and Property and your Living Will. It is very important to give copies to those who you named in those documents as your agent, and health care directives should be given to your physician for inclusion in your medical records.

If you have also set up a Living Trust, you will want that document readily available and also accessible to the person whom you have named as your successor trustee as well. It is helpful to have a listing of assets owned by the Trust updated regularly.

The executor of your will should know where your original will is kept, along with any additional instructions, for example, your funeral arrangements.

If you have any questions or concerns about your estate planning, contact an estate planning attorney today. The Law Offices of Cynthia Hayes Hutchins, P.C. can help you with your estate planning in DuPage County today.

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