revocable trust attorney in Honolulu
Drafting last wills and testaments and other documents concerning how assets are to be distributed upon death is not the only thing an estate planning attorney in Honolulu can help his or her clients accomplish.
Understanding Estate Planning
It used to be the case that estate planning was considered the province only of the extremely wealthy. Today, though, changes in both laws and living standards have made it essential that just about every person at least give some thought to what will happen to their estates in the event of their deaths. Read on to find out some important facts about estate planning Honolulu residents can't afford to ignore.
For some, estate planning is a simple process of drafting a last will and testament that lays out what will happen to money, property, and assets after a person passes away. Those who have large estates or minor children should note that the process may be a little bit more complex, though, given these factors. Revocable living trusts may need to be set up, and guardianship or custody of any children may need to be established.
Power of Attorney
Drafting last wills and testaments and other documents concerning how assets are to be distributed upon death is not the only thing an estate planning attorney in Honolulu can help his or her clients accomplish. It's just as essential that clients establish a durable power of attorney, as this will allow them to name a particular person who can be trusted to make financial decisions in the event of incapacitation. There's nothing worse than becoming temporarily incapacitated and recovering only to find that a life-long business venture has tanked due to neglect, which is why it's so important to assign power of attorney.
Advanced Healthcare Directives
Just like last wills and testaments lay out what clients want to happen to their assets upon their deaths, advanced healthcare directives lay out exactly what they want to happen at the end of their lives when it comes to medical care and disposition of their physical remains. These documents may include everything from whether or not to administer life support and artificial nutrition to the designation of the client as an organ donor and can even be used to make funeral arrangements in advance.
Get Help Today
If all of this information sounds like a lot to process, that's OK; the field of estate law is, in fact, quite complex. That's part of the reason so many people rely on dedicated attorneys to help them draft documents and ensure that all of their affairs are in order. Failing to take this important step can be disastrous, as even a minor mistake in filing can lead to years, or even decades, of family disputes, so don't hesitate to call an estate lawyer for a consultation as soon as possible.