Atlanta, GA, United States - August 15, 2022 —
There are several critical must-dos to ensure an Estate Plan is not only robust but delivers on clarity, disclosed Estate Planning and Elder Law Attorney Brian M. Douglas.
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Designating beneficiaries, having letters of intent, a durable power of attorney, and appointing responsible people to carry out your wishes if you become incapacitated or on death are crucial, the Founder of Brian M. Douglas & Associates, LLC, in Atlanta, GA, said.
"While all these will help underpin a well-conceived Estate Plan, there's much more to a good Estate Plan than simply writing a Will or a Trust, although they form the core of any Plan."
A Will is a document that provides clear guidelines for your assets' allocation. Getting this right will help complete the process and avoid confusion among relatives and beneficiaries.
Douglas said: "Accompanying the Will should be current beneficiary designations for retirement accounts and insurance policies that will help legally execute a person's wishes.''
“Failing to do so means the plan's administrators may step in and decide who will receive those assets, even if it's not what you wanted."
He emphasized preparing a Letter of Intent is an integral part of good Estate Planning. "This document is left to your agent or executor to guide them in implementing your wishes following incapacity or death."
A Durable Power of Attorney helps in managing your assets legally if you become disabled. He explained: "Without a Power of Attorney, your assets could be left to the mercy of a Court. A Power of Attorney enables someone you know and trust to engage in real estate, financial transactions, and other legal decisions on your behalf."
Another must-do is appointing a trusted individual to follow the instructions contained in your Healthcare Power of Attorney. "This person will make vital healthcare decisions that align with your views if you cannot make them yourself," Douglas concluded.
Source: http://RecommendedExperts.biz
Contact Info:
Name: Brian M. Douglas
Email: Send Email
Organization: Brian M. Douglas & Associates, LLC
Address: 900 Circle 75 Parkway SE, Suite 800, Atlanta, GA 30339
Phone: (770) 933-9009
Website: https://www.atlantagaestateplanning.com
Release ID: 89079921
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