No matter your estate's size, creating a comprehensive estate strategy can prove difficult and even emotional. Estate planning is not a "set it and forget it" process. Family needs as well as new issues regarding state regulations are always evolving. Periodic reviews of existing documents with an attorney will keep your planning current in an ever-changing world.
Executing a will or acting as trustee of an estate frequently requires the support of a professional. Finding an elder law attorney whose primary focus is estate planning will give you options to achieve your goals. With knowledge of your state's legal statutes, they can develop an asset protection strategy, update your estate plan over time, and administer your estate with efficiency.
However, keep in mind that putting your affairs in order is a sobering task and requires more than creating a will.
Comprehensive estate plans may include other foundational documents, including trusts and health care directives. Long-term care planning provisions and specific durable powers of attorney are crucial, too. If you have minor children or a loved one with special needs, you can identify a guardian to care for them.
Your estate plan may include retirement housing preferences, long-term care plans, and how to cover those costs. Elder law attorneys can also assist with decisions concerning probate and gift, income, and estate tax matters.