Comprehensive Estate Planning
Traditional estate planning focuses on what happens to our assets after we pass away. It is a way to ensure that our belongings are distributed according to our wishes in a timely manner and with minimum expense. Estate planning is important but it is also essential that we plan for our lifetime. Lifetime planning allows us to protect the things we own as well as preserve our autonomy while we are living. Together, your estate plan and your lifetime plan become a comprehensive estate plan. No matter what your age or life circumstance, you should have a comprehensive estate plan in place to ensure that you and your loved ones are protected.
Benefits of a Comprehensive Estate Plan
A comprehensive estate plan:
- Ensures that your wishes and values will be respected if you fall ill or become incapacitated
- Allows those you trust to manage your finances and provides them with access to your health information
- Protects your loved ones from paying for expenses related to your health care and long-term care
- Provides for your loved ones after you pass away
- Helps to circumvent family arguments
Designing Your Comprehensive Estate Plan
Creating your comprehensive estate plan is essentially planning for the rest of your life. This plan will help to preserve your desired lifestyle and financial security as well as attain certain goals you have set for yourself.
In particular, it is important to plan for the possibility of incapacity. You will need to ask yourself the following questions:
- Who do I want to manage my finances?
- Who do I want to manage my medical care?
- What decisions should these individuals be authorized to make on my behalf?
- If I require long-term care, what do I want that to look like?
Implementing Your Comprehensive Estate Plan
Once you have spent some time thinking about the above questions, contact a trusted estate planning attorney in Pittsburgh to help you implement your comprehensive estate plan. Your attorney will help you put together the following:
- Power of Attorney
- Advanced Healthcare Directive
- Will and Living Will
- Trusts and Revocable Living Trusts
- Beneficiary Designations
Once implemented, your comprehensive estate plan will enable you to protect yourself and your loved ones as well as help you to preserve your financial and personal autonomy.
It’s never too early to start planning for the future. Contact us today to discuss your specific needs and to find out how an estate planning lawyer in Pittsburgh can help you. Please call us at Fingeret Law at 412.281.8222 or contact us online.