Lots of Kent area residents have created an estate plan or have it on their to-do list. Many times an estate plan will include gifting money or property to heirs after a person dies. For lots of people it is important to them that their kids, grandchildren or other relatives are left with some of their estate.
The start of a new year for Kent residents can be a great time to review important family documents. Although no one wants to think about what will happen to their assets and their heirs when they die, estate planning needs to happen to preserve the assets and create a legacy.
Estate planning is generally used to protect assets and pass them down to the next generation. When parents have these documents in place they can feel secure about what will happen to their children if something unexpectedly happens to them. But does anything change if another child is added to the family? Would the will need to be amended?
There are many aspects to estate planning that are very important. Choosing a power of attorney is a very important and difficult decision. There are several factors that should go into choosing a power of attorney.