Last Will and Testament Planning

Last Will and Testament Planning Last Will and Testament planning is very important. Ready to start thinking about your Last Will and Testament but don't know where to start? Choosing an attorney Find a lawyer with related areas of expertise, like estate planning and taxation law and check with local the Bar Association to see if the attorney has had any disciplinary actions taken against him or her. A Living Will is as Necessary as a Last Will and Testament. Tell family members, your lawyer and your doctor where your Living Will is located and what it says. When you enter a long term care facility, give your Living Will to the director to make sure they will honor it. And make sure all your friends and relatives, know about it too in which case they will help carry out your wishes. Caring About Last Will and Testament Out of half a dozen randomly selected people interviewed, none had a Living Will, and only one had a Last Will and Testament, though every person said they believed the documents are essential. All said they believed that proper tax planning in Wills can save one's heirs certain estate taxes. Make sure your Last Will and Testament is up to date as well as your Living Will. Don't do your Living Will and Testament yourself. Office supply stores and the Internet sell computer programs that create Wills and power of attorney forms, but these often gloss over the intricacies of tax laws. You may save money on legal fees up front, but you can put yourself in a disastrous situation down the road. Final Note Consider building in compensation for extra special care. People often leave their assets to their children in equal shares, but many times one child is especially involved while others are less attentive. If one child is giving you care directly, probably in their home, you may want to consider giving them more. Make sure your Will is up to date. Laws change and your Last Will and Testament is your last chance to see wishes and bequests carried out. For more information, you may visit: http://tinyurl.com/kqtxd5