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If you have not acquired any significant assets yet, estate planning is probably the last thing on your mind. However, everyone should have a proper estate document portfolio, including a will, power of attorney and combined healthcare power of attorney/living will regardless of their financial situation. These documents provide so much more than bequeathing your property to loved ones, and it is never too early to draft these documents because you can update them at any time. 

Why It Is in Your Best Interest to Create these Estate Documents

Protect Yourself

A power of attorney is one of the most important documents that you can have in your portfolio. The power of attorney grants authorization to an individual of your choosing to assist you with the management of your personal affairs, including both financial and medical affairs. Should this document be absent from your portfolio and desire or need assistance, the only option available to you would be the appointment of a guardian by the court. The appointment of a guardian is a time-consuming, costly and invasive matter that can and should be easily avoided by having a power of attorney in your portfolio.

Additionally, if you have any last wishes regarding your end-of-life care, you can include them in a combined healthcare power of attorney/living will. Your living will (advanced health care directive) can detail your preferences regarding end of life treatment including everything from artificial nutrition and defibrillation to hospice options and hemodialysis.

Although no one wants to confront their mortality, addressing these scenarios will provide peace of mind. It will also reduce the burden your loved ones will have to bear should you ever become unable to make medical decisions for yourself.

Protect Your Loved Ones

willIf you have children, it is essential that you create a living will to establish guardianship over them should anything happen to both you and your spouse. If you do not designate a guardian in your will, the state will determine who takes care of your children.

Creating a will can also ensure your assets are distributed as you wish upon your death. If you die without a will, the state will distribute your property according to their law, which can be problematic if you have been married multiple times or have children from multiple marriages.

If you agree that it is essential to have a proper estate document portfolio, including a Will, Power of Attorney and Combined Healthcare Power of Attorney/Living Will, turn to the Law Offices Of Robert B. Liotta, Esq. in Lower Burrell, PA, for compassionate and competent legal guidance. Visit the firm online to explore their entire range of practice areas, including real estate and domestic matters (adoption, divorce, custody and support) or call (724) 334-9870 to schedule an initial consultation with an estate planning attorney today.

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