It is not uncommon for people to be wary about planning for what happens in the event of their death. Often, this topic may be considered negative or morbid in some way.
However, the reality is that estate planning can relieve a lot of stress and offer stability for you and your loved ones. There are various factors to consider in your estate plan, however, outlined below are three key elements that you may wish to keep in mind.
Advance medical directives
The personal health care that you receive is likely to be a top priority in your estate plan. Having an advanced medical directive in place will ensure that your wishes in this area are made clear. A failure to plan in this area could lead to heightened stress levels for your loved ones. An advanced medical directive means that you are taking the decision out of their hands while ensuring that your needs are met.
Your will
Your estate plan will often be centered around your will. Having a will in place can settle important issues, such as who inherits your property or who becomes a guardian to children in the event of your passing.
Financial power of attorney
Financial issues can often result in excessive stress for both you and your loved ones. Allocating a suitable financial power of attorney can relieve much of the pressure. They will ensure that your economic affairs are managed in a way that is tailored to your needs.
It is important to remember that planning for the future does not have to be viewed as a negative. Having a solid estate plan in place could be in the best interests of you and your family. Additionally, you should remember that you have legal rights in New Hampshire.
