Broaching the topic of estate planning can be somewhat uncomfortable for many people. However, it is better to have these plans in place long before they are needed in order to ensure that end-of-life decisions are handled accordingly. Estate planning covers various subjects from creating a will to appointing a power of attorney, and these decisions should not be made hastily.
Some Michigan residents may avoid thinking about making these plans because they fear that the process will be long and complicated. Luckily, drawing up the proper documents can be less stressful if an individual has information on how to do so. Certain circumstances such as multiple marriages and the number of children could potentially lead to more difficult decisions, but understanding the importance of these plans could help parties appoint the right individuals.
When appointing beneficiaries and powers of attorney, it is important that responsible and trustworthy individuals are chosen. It is also necessary to discuss these appointments with the potential candidates to determine whether this responsibility is one they are willing to take. It may also be prudent to name an individual to act as a replacement in the event that the initially appointed party is no longer able to carry out the necessary duties.
When someone is nearing the end of their life, it can be a difficult time for that party as well as their family. By having important decisions already made, the situation can be slightly less burdening, and there can be peace of mind that the choices are truly what were wanted. Information on drawing up a will and other measures regarding estate planning in Michigan could help individuals move toward a less stressful future.
Source: CBS Boston, “All About Estate Planning“, Dee Lee, June 13, 2014