A two minute drill on estate planningMatthew C. Mullhofer
July 24, 2009 — 1,248 views
While volumes can be written about the needs of estate planning, sometimes it is easiest to have a short simple check list. To that end, here is a two minute check list that may help facilitate a more comprehensive discussion. Every estate needs the following:
This legal document tells who will manage your estate. A will is a document containing your instructions and wishes as to how your property and assets are to be distributed after your death says Matthew C Mullhofer. Any person, of any age, should seriously consider a will at the earliest possible time. It is the expression of your wishes concerning how your property will be distributed. It is a written statement, signed in compliance with you state guidelines. It is a legal document containing the names of the people you want to benefit, as well as details of your possessions at the date of your death. Matthew C. Mullhofer knows that your property and possessions include everything you own; your home, land, vehicles, bank accounts, benefits of insurance policies, furniture, boat, investments such as shares of stock, personal jewellery, artwork, and so on. A will is the only way you can ensure your assets will be distributed according to your wishes.
A Letter of instruction:
This document addresses financial and personal issues that must be attended to after your death. It is generally less formal then your will and can be much more to the point. One of the most important features of a letter of instruction reflects Matthew C. Mullhofer, is it provides specific information regarding personal preferences in medical or funeral care and details concerning dispersion or care of your personal assets that your legal documents may not outline. Letters of instruction can be used for many different things, but one of their main uses is simply to lead the person who must settle your estate through the process step by step in plain language that he or she can easily understand.
While this document may be referred to by different names, its intent is straight forward. These documents refer to health care directives, living wills, health care (medical) powers of attorney, and other personalized directives. It is a legal document that you as the signor defines your desire to be kept alive by extraordinary medical efforts. Matthew C. Mullhofer has utilized this type of document for many of his clients. This is particularly important if you suffer from a terminal illness or are severely disabled and can no longer make decisions for yourself. This document eliminates the distress that your loved ones might other wise be faced with.
About the Author
Matthew C. Mullhofer is a practicing attorney In Orange County, California. Mr. Mullhofer specializes in the protection of client property by providing estate planning; living trust preparation and asset protection. The firm may be reached at 877-246-2770.8877-246-77.246.2770.