Create a customized estate plan in the new year

2023 is coming to a close. Many of us make resolutions for the new year. They often include health benefits such as losing weight and exercising more. In 2024, why not make a resolution that’s simple to keep? Create a proper estate plan for you and your loved ones.   Hurley Elder Care Law can assist you in making a customized estate plan that meets your family’s needs.

Don’t Procrastinate!

Although estate planning may be uncomfortable, it forces you to think about how your loved ones will manage when you are no longer here. Some people delay estate planning because they believe certain myths about wills – for example, they are confusing or expensive. Others believe they don’t have enough assets to warrant writing a will. It is also common for people to think estate planning isn’t necessary because they are not married, don’t have children, or don’t have a lot of assets.

However, it is important to note estate planning is not all about money. Estate planning also includes planning for yourself in the event of your incapacity. Incapacity is a lack of physical or mental/cognitive ability that results in a person’s inability to manage their own personal care, property, or finances Incapacity, whether physical or mental, is increasingly a concern as we are living longer. Most of us will experience some level of incapacity and decline in our lifetime, and death happens to 100% of us, so preparing is the best decision we can make.

What are the Basic Elements of an Estate Plan—at Any Age?

• A will is a legal document that gives instructions on how to handle your property after you die. The Certified Elder Law Attorneys (CELA) at Hurley Elder Care Law will work with you to draft a will specific to your needs which appoints an executor who will carry out the instructions specified in your will.
• A General Durable Power of Attorney for Financial Matters is critical for anyone over age 18. A written document in which a mentally competent adult (called the “principal”) appoints another mentally competent adult or a corporation (called the “agent” or “attorney-in-fact”) to act on the principal’s behalf. The attorney-in-fact may perform any legal function or task which the principal has a legal right to do for him or herself.
• Completing a Georgia Advance Directive for Healthcare is also important. A written instruction, such as a living will or durable power of attorney for health care, which guides care when an individual in terminally ill or incapacitated and unable to communicate their desires.

So, here’s to the year of getting things done!

Don’t delay your New Year’s resolution to improve your complete health (physical, legal, and financial). You can start this process with Hurley Elder Care Law today by contacting our office at (404) 843-0121 or through our website. Cheers to 2024!