What Estate Planning Documents Do I Need?

While there is a common misconception that estate planning is a process that is only important for older adults, it is essential for Connecticut residents to know that estate planning is critical for adults of all ages. In particular, once you are in your late 30s and into your 40s with minor children and growing families, estate planning is especially crucial for you to consider. When it comes to estate planning in Connecticut, the process can seem daunting. You may be wondering what documents you will need to create, how long the overall estate planning process will take, and whether you are even ready to make certain decisions that are necessary for estate planning.

Whether you feel ready to embark on the estate planning process or you have questions about what to expect, an experienced Canton estate planning attorney can speak with you and can help. In the meantime, we can provide you with more information about the common types of estate planning documents you will want to consider and give you more information about the purpose of each.

Will 

Wills are a critical part of any estate plan. In case you have never considered making a will or do not have a clear understanding of what this document contains or what its purpose is, we want to provide some clarification. Through a will, you can make a number of very important decisions about your assets and your family, including who will inherit your property and who will become guardian of your children if you pass away.

Advance Directives 

Advance directives are documents that allow you to make decisions about your health care if you become incapacitated and cannot make these decisions for yourself. In Connecticut, advance directives include a living will (where you identify health care instructions if you are permanently unconscious or in a terminal condition) and the appointment of a health care representative (who can make health care decisions on your behalf).

Powers of Attorney 

There are different types of powers of attorney, but these documents allow you to name an agent who can make important decisions — such as financial decisions — for you if you are unable to do so yourself.

Trusts 

Depending upon your family circumstances and your own financial situation, establishing one or more trusts may be a critical part of the estate planning process for you. There are a wide range of trusts that have different purposes, and a Canton estate planning lawyer can explain whether a trust is a good option based on your family’s needs and your own wishes.

Contact Our Canton, Connecticut Estate Planning Lawyers 

Estate planning is essential to protect your family and to ensure that you have a voice in critical decisions that will affect your children even if you cannot physically voice those decisions yourself. If you have not yet thought about estate planning, now is an important time to seek advice from an experienced Canton estate planning attorney at the Law Office of Brian S. Karpe to learn more. Many people feel overwhelmed at the prospect of estate planning and creating some of the documents we have discussed above, but we want to emphasize just how important it is to have your estate planning documents in place. Contact us today to discuss estate planning options and to begin working on essential documents like your will, powers of attorney, and advance directives, and more.

Sources:

cga.ct.gov/current/pub/chap_802a.htm

portal.ct.gov/-/media/Departments-and-Agencies/DPH/dph/MOLST/042715AdvanceDirectivesEnglishpdf.pdf