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Almost everybody can benefit from estate planning

On Behalf of | Sep 13, 2018 | Estate Planning, Firm News

We have to face that most people in the greater Cleveland area are not particularly well-to-do. They may have some modest savings, own a house and car and contribute to a 401(k), but they will not be leaving millions to their loved ones should they die.

Still, even people with relatively modest means can and really should consider doing some estate planning while they are in good health and have the wherewithal to go through the process.

It may not always be best to trust just the help of resources available on the internet to accomplish this. While there are a lot of documents available online, it can be hard to know which document or planning device is right for one’s situation. In these cases, the decades of experience our lawyers bring to the process of estate planning can be invaluable.

Estate planning is a lot more than just writing up a will, although a will alone is a good first step. Simple wills can help distribute property upon one’s death efficiently, and they can also give parents peace of mind by recommending a suitable guardian for their children should they both pass away. For more complicated situations, our office can set up some relatively simple trusts.

Additionally, our office can help clients prepare a power of attorney, a living will and other important documents that they and their loved ones will need should they, through aging, an illness or an injury, suddenly find themselves unable to handle their own medical and financial decisions.

There is even a document one can prepare designating what type of funeral one wants as, believe it or not, this can be a point of contention after a person’s death.