What You Need to Know About Estate Planning - Pierce & Associates

Last updated 22 hours ago

It?s never too early to begin taking the necessary steps to ensure your family?s financial security. In addition to outlining your final healthcare and property wishes, estate planning is one of the best ways to take care of your family?s needs in your absence. Read on for more information on estate planning.

What is Estate Planning?

Estate planning is an area of elder law that focuses on protecting your legal, health, and financial needs during the later stages of your life. An estate refers to all of the property owned by you at the time of your passing, including your bank accounts, stocks or securities, life insurance policies, real estate, and personal property such as motor vehicles, jewelry, and heirlooms.

Benefits of Estate Planning

There are a number of reasons to consider planning your estate sooner rather than later. Estate planning provides a number of benefits including:

• Providing coverage for long-term healthcare services or residential care that is not covered by Medicare or Medicaid.
• Allowing you to select a conservator or individual who has the authority to make financial decisions on your behalf.
• Helping you identify family members and friends that you would like to receive your property.
• Outlining the type of medical care you wish to receive in the event you are unable to make decisions.
• Preparing funeral arrangements.
• Protecting your loved ones from unexpected financial burdens.

Consider Hiring an Attorney

One of the best ways to begin planning your estate is to contact an experienced attorney who can educate you on all of your options and help you make the best decisions to fulfill your long-term goals. In addition to helping you determine your specific needs, working with an attorney will offer you greater flexibility and control over the future of your estate.

Make sure that your loved ones are protected by contacting the estate planning attorneys with Law Offices of Pierce & Associates, P.L.?in Orlando?at (321) 418-3474. You can also set up an initial consultation with our real estate attorneys or short sale attorneys by visiting us online.

Source: http://www.johnpierceorlando.com/497174/2012/07/14/what-you-need-to-know-about-estate-planning-.html

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