Counsel & Advice From Top New Mexico Estate Planning & Elder Law Attorney
We celebrate Father’s Day in June, honoring dads who devote themselves to raising children and building families. To protect a family, create a legacy and prepare for the future, young fathers are wise to invest their time and attention in estate planning.
Caring for Your Aging Dad should be planned before it becomes an emergency. Talk with your father and find out what is important to him. Let him know that an estate plan will help the people he loves as well as protect him.
Legacy of Caring for Families
Estate planning is always a difficult subject to deal with, because who wants to arrange things for when they die?
When you draft your will, you should name an executor.
Incapacity can occur because of illness or an accident. It can be temporary or permanent. That’s why every adult needs a power of attorney in place, once they turn eighteen.
Ben Franklin once said, ‘… nothing can be said to be certain, except death and taxes.’ For all certainties in life, the best thing you can do is plan for their eventual occurrence.
Grantor retained annuity trusts, intentionally defective grantor trusts, spousal lifetime access trusts, oh my! If you overhear two estate planning attorneys at a coffee shop, it would not be unreasonable to think that all clients have estate plans filled with trusts.
Dying intestate—without a will—may impose costs and delays on your loved ones. It can dynamite your estate plan unless you made other plans.
It is quite a tragedy when a loved one passes away. You may want to remember them by keeping sentimental objects from their home, or perhaps they wanted you to inherit a specific item.
