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Estate plan ideas for the average American

On Behalf of | Jan 25, 2021 | Estate Planning

Crafting an estate plan can be an expensive venture, but that does not mean it’s solely for the well-to-do families of Arlington and Southlake, TX. The fact is that no matter how much or how little you have within your estate, it is always a good idea to ensure that your assets are properly handled at the time of your passing or if you are ever unable to handle your own affairs. The following includes further information on the options that the average American has for creating their estate plan.

Taking it online

Due to innovations in internet security, more people are becoming comfortable with creating and storing legal documents online. Estate planning no longer has to be spent in an attorney’s or accountant’s office; every step can be created online with a professional’s help. For many Americans, this can save not only a lot of time but a lot of money. In fact, most estate planning bundles can cost you as little as $200. However, it’s recommended for families to first properly research the online company they choose to use.

Creating a will

Complicated estate plans tend to be used for those who have a large number of assets, such as real estate, stocks and similar investments. If you’re simply looking to pass down a few items such as the family home or heirlooms, a will is often enough. A will, with the aid of an attorney, can be a quick and easy way to determine who gets what after you pass on.

Assigning power of attorney

It can be scary to think about not having any say in what type of medical assistance you receive. That is why many Americans choose to obtain and fill out a medical power of attorney form. Most states have these forms on their website at a very low cost, and many of these forms also include a living will.

Although the routes to accomplish a basic estate plan are simple, it is still recommended to seek the services of an attorney. Doing so may make you feel better about the validity and strength of your legal documents.