Estate planning is vital to make sure that the heirs you leave behind are well taken care of. Even though it may not be fun, it will be worth it whenever we pass away.
Do you have any potential heirs besides the ones you’ve listed?
While it is unlikely for a long-lost sibling to show up at a funeral and to make a claim on your estate, it is not unusual either. You need to make sure your estate planner knows all of the individuals that would be eligible to make a claim on your estate. Even if you would rather not acknowledge them, making the planner aware of them will greatly ease the situation.
Do you have any genetic material preserved?
If you have sperm, eggs, or fertilized embryos “on ice” your estate planner needs to know. This way if you would like to care for descendants conceived after you pass away you have the option to. If you would like to provide for them, how long is that option available for?
When do you want to be taken off life support?
Signing a health care directive can let you take control of what you deem as your quality of life. Your healthcare provider will be able to bide by your wishes and take you off life support when the directive says to. An estate plan will make the decision that others may find uncomfortable and difficult.
Where are your usernames, passwords, and other login details for online accounts?
“Digital life” is a relatively new idea. While many of your online accounts will go dormant and have little worth in the long run, there are potentially valuable assets stored online. You will want to give access to these accounts so your beneficiaries receive all of the assets you own.
Who will take care of your minor children if both parents are deceased?
If you do not name a guardian, the court will do it for you. While the judge will make their decision based on what they believe will be in the best interest of the minors, you will know what is best for your children better than a judge can. When selecting who will care for your children, be sure to also select optional short-term caregivers. Selecting these caregivers will ensure that if the long-term caregivers are unavailable for whatever reason your children will be in the care of someone you select and not the custody of the state.
Estate planning is important if you would like there to be an easy transition after you pass away. The closest people in your life will be affected by your passing so please contact us so we can help with this vital process.
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Jamison Bonds, VA Accredited Attorney
One of the many benefits of being an elder law attorney is getting to work with selfless clients who act not out of their own self interest, but out of a deep concern for the people they love. That’s why I love helping families enjoy peace of mind and protect their hard-earned assets.
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Over the course of nearly a decade, we’ve helped more than 1,200 of your neighbors with their estate planning and elder law needs. Now we can help you achieve the best possible outcomes for your family.