Why Being In The 20% With An Estate Plan Matters

Here’s why it matters.

Estate Planning is About Your Health as Well as Your Money

Although many people think they don’t need estate plans unless they have amassed a lot of valuable assets, they don’t realize that a comprehensive plan protects your health care needs, and for that reason, everyone needs to have certain estate planning documents prepared:

• Health Care Power of Attorney – If you are unconscious or otherwise unable to communicate with doctors, your health care power of attorney enables a loved one to authorize medical treatment for you and make medical decisions on your behalf until you recover.
• Living Will—This document explains your preferences for health care and medical treatment in certain situations if you are unable to communicate with doctors.
• HIPAA Release –Because federal privacy laws severely restrict access to patient information, your loved ones may not be able to learn about your medical condition in an emergency. Having a HIPAA release prepared ensures that loved ones can be kept informed.

Remember that an accident or illness can hit you at any time of life and with no warning and is statistically more likely than death at a young age. You need to have the right documents in place ahead of time, just in case.

Most People Don’t have a Plan for Their  Health

Did you know that almost 80% of American families have no form of estate plan or strategy in place? That means only about 20% of the people have taken the right steps to protect their loved ones and to stay prepared for emergencies that can impact their lives.

Are you in the 20%? Can you enjoy the peace of mind knowing that you are prepared for whatever the future may bring?

You can’t control what other people choose to do, but you can make sure that you are prepared.

You Don’t Want the Arizona Intestacy Laws or Probate Making All the Decisions

Arizona laws include default provisions that specify who should be named guardian of a minor child if the parents pass away and who should handle the final affairs and receive the assets in the estate of a deceased person. When you create your own estate plans, you can override these provisions and ensure that your preferences are the guiding force without delay. When you don’t work with an attorney to develop and implement the right plans, then your preferences will be entirely disregarded. The law will be all that matters.

If the law specifies that your sister has priority to be made guardian of your children, then the court is likely to make her guardian even if she is determined to raise your children with religious beliefs that you don’t agree with. If the law determines that your brother should be in charge of your estate, then he will most likely be put in charge, even if he can’t be trusted to manage tying his own shoelaces. If the law determines that your spouse needs to share your estate with your child from a former marriage that you haven’t spoken to in 20 years, then the house may need to be sold and your spouse could have no place to live. The law does not care about the quality of your relationship or your preferences, only who has priority under the statute.

You don’t have to let the law make these decisions. You have the power to remain in control.

Put Yourself in the Top 20% with a PayneFree Estate Plan from PayneLess Law

Estate planning is a task many people put off even when they know they need it. But at PayneLess Law, we make estate planning easy. All you need to do is take the first step by contacting us to schedule an appointment. We work with you to explain your options, help you make informed choices to protect yourself and your loved ones, and put your plans into action so you’ll be protected now and in the days to come.

So take that first step and put yourself in the elite 20%. Contact PayneLess Law today.