"Although it may be unpleasant to think about death or incapacitation, doing so can help you make decisions that align with your values and help your loved ones avoid an arduous court process after your death, Koen says. As an estate planning attorney, Koen helps clients - mostly in their 30s, 40s, and 50s - create estate plans to bring peace of mind and security after a tragedy. Here's how you can do the same."
"A will is the "driving document" of an estate plan, Koen says. This legal document, which can be five pages or 100, depending on the complexity, outlines how your assets will be divided in the event of your death. It also covers important legal decisions, like who should take custody of your kids or pets. However, it's not the only important paperwork."
Estate planning matters for people of all ages and income levels; proper documents prevent courts from making decisions and ease burdens on loved ones. Even seemingly simple estates—home, retirement account, cash—face complex laws that can trigger costly court processes and taxes. A comprehensive estate plan includes a will that specifies asset distribution and custody decisions, plus a power of attorney for legal and financial decision-making and an advance directive for medical choices. Proactive planning before incapacity or death ensures personal values guide outcomes, designates trusted decision-makers, and reduces administrative, legal, and financial complications after tragedy.
Read at Business Insider
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