5 Things to Include in an Estate Plan

Posted on March 3rd, 2018 by Foothill Funeral and Cremation under Estate Planning, Funerals, Glendora, Memorials
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Estate PlanningSmart Steps to Take Before You Die

When you contemplate death, as most people sometimes do, do you think about what you will leave behind? Estate planning is important for people of all ages, backgrounds and financial situations. Although you may be tempted to avoid estate planning because you don’t want to “tempt fate” by giving that much consideration to end-of-life matters, don’t superstitiously leave your loved ones without direction or resources.

What is an EstateEstate Planning Death

Your estate consists of the property you own (individually and jointly), bank accounts, real estate, jewelry, etc., as well as any associated debt. Without an estate plan, your loved ones will struggle to carry out your last wishes. Failure to plan can, in fact, result in a long, drawn out probate, which could be very expensive and stressful for your family. If, on the other hand, you take steps to put an estate plan in place, you will enjoy peace of mind that your family is provided for after you pass.

Estate Planning AssetsEstate Plan Guidelines

Will

  • This provides for an executor of your estate, who will manage the estate, pay debts and distributing property as specified.
  • You can outline the distribution of assets in the will.
  • The plan can be as broad or detailed as you wish.
  • Beneficiaries and guardians for minor children should be assigned.
  • You can spell out how you want your funeral/memorial/burial or cremation to be carried out.

Living WillFuneral Estate Planning

  • Outlines wishes for end-of-life medical care.
  • It can include as much detail as you wish, such as which medical treatments you would like to have in place or other specifics such as a DNR (Do Not Resuscitate) advanced directive.
  • A living will could reduce your family’s stress about decisions and gives them peace of mind during what can be a difficult and emotional season.

Estate Planning FuneralHealthcare Power of Attorney (POA)

  • A healthcare POA is a key part of any estate plan.
  • This legal document appoints someone to legally make healthcare decisions for a senior adult.
  • A durable POA will remain in effect for someone who loses the ability to rationally make decisions.

Financial Power of Attorney (POA)

  • A financial POA names an agent to act in the place of the adult for financial matters.
  • The durable financial POA stays in effect if the adult becomes unable to handle his or her own affairs.
  • By naming a financial POA, you will lessen the stress and expense of a guardianship.

TrustFinancial Assets Estate Planning

  • Beneficial for the distribution of specific assets or pieces of property.
  • The benefit of a trust is that it does not go through probate court, as compared to a will.
  • Property is distributed at the death of the trust maker, but court is unnecessary.
  • This also allows for privacy of the trust maker, where with a will and a probate, the deceased person’s assets and the terms of their will is made public.
Estate Planning Attorney

For end-of-life planning, we recommend Estate Planning Attorney Vic Skvarna

For Estate Planning

If you have any questions about something you have read or would like additional information, please feel free to contact us. We recommend Vic Skvarna of Skvarna Law Firm, for estates, wills, trusts, elder care and probate matters. Call for a Consultation (909) 608-7671.

Pre-Planning

In addition to planning for your heirs, we recommend planning your end-of-life wishes. We make doing so easy, since we offer pre-planning services. Planning for your final arrangements will give you with time to make end-of-life decisions in a calm and rational atmosphere. Doing so will also reduce the strain on your family and friends, who would likely struggle to make decisions during an otherwise stressful time. Start the online planning process now, or meet with one of our pre-planning advisors. It just makes sense.

About Foothill Funeral & CremationFuneral Estate Planning

We know that losing someone is no laughing matter. We hope you will let us help you process the loss and take care of the details so you can move forward with your life. Give us a call (626) 335-0615 or drop by our Glendora showroom. In Covina, our relationship with Sacred Heart Chapel is the perfect place for mourners to host funerals and memorial services in a grandiose yet intimate setting. We proudly serve the San Gabriel Valley, San Fernando Valley, Los Angeles Basin, Orange County and the Inland Empire. Working in the mortuary industry since 1996, we have worked hard to build a reputation of quality, sincerity and trust. Please allow us to help you at your time of need or in the future. Call today (626) 335-0615 or drop by our showroom.

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