Estate Planning Essentials: Wills, Living Wills, and Guardianships

What percentage of adult Americans have a legal plan if something should happen to them?  Only 45% of adult Americans have a will and even less (41%) have a living will.  If you have not setup your own estate plan, there is no better time than now to start.  There are many documents that can be included in an estate plan, but we are going to look at a few estate planning essentials that should be in every plan.

1)      Last Will and Testament-If you do not have a will, the state will determine the outcome of your personal property and assets.  A last will and testament serves as the cornerstone of every estate plan.

2)      Durable Power of Attorney-This refers to your formal designation of a person to advocate on your behalf and make decisions about your personal affairs in the event you become unable to make decisions yourself.

3)      Advanced Healthcare Directive-Also known as a “living will”, these instruments are similar to a durable power of attorney, but allows an individual to make healthcare decisions for another individual in the event that they cannot do so for themselves.

4)      Guardianship Designations-In the tragic event that something happens to both parents it is important to have a legal document that gives guardianship to the desired person(s).

Despite what you may have heard, estate planning does not have to be overly complicated or extremely expensive.  At the Law Office of Joseph D. Songy, PLLC Attorney and Counselor at Law we take special care to ensure that you have the best estate plan possible.  We make the estate planning process is as simple as possible and provide our services for a reasonable rate.  If you need any legal assistance, give our office a call at 601-336-0305 or email us at songylaw@gmail.com to schedule your Free Consultation from a local attorney in Hattiesburg, MS.

PLEASE NOTE: Nothing in this post shall be construed as an offering of legal advice.  These posts are meant for informative and educational purposes only.  Please call our office to discuss any legal issues you may be facing

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