Elder Law Attorney Dennis Toman founder of The Elderlaw Firm in Greensboro, NC urges individuals not to delay estate planning due to discomfort discussing death. For more information please visit https://www.elderlawfirm.com
-- Awkward and challenging conversations around death and the implications flowing from that often cause people to skip estate planning decisions until it is too late, Greensboro, NC estate planning attorney Dennis Toman has revealed.
For more information please visit https://www.elderlawfirm.com
A study from AARP, formerly the American Association of Retired Persons, with millions of members aged 50 and over, points to many needing an effective estate plan.
The Founder of The Elderlaw Firm in Greensboro, NC, said: "Given life's ability to throw up the unpredictable, it is more important than ever to create an estate plan. It's not surprising many delay estate planning and being financially under-prepared because they don't want to contemplate the inevitable."
He added: "For many, creating an estate plan forces them to confront the end of their lives. But it will reduce the stress and uncertainty of loved ones left behind in the aftermath. A plan addressing a person's and family assets is crucial and should cover both during lifetime and after passing."
Without an estate plan, problems will invariably pop up, causing uncertainty about where assets are, how they should be distributed, and how to access them and other essential documents.
Too many people delay despite advancing age and health problems. Attorney Toman asserted it makes sense for people to start the estate planning process earlier while they are still physically and mentally healthy.
Firstly, they should contact an estate planning and elder law attorney to consult about customized plans based on their financial situation, family dynamics, plans, and goals.
Dennis Toman said: "It is recommended that married couples attend financial and estate planning meetings together, so they are on the same page and understand what will happen if either one becomes incapacitated or passes away."
"As there are so many factors, setting up the estate and financial plans are not black and white. Approaching the planning process together ensures the plan will be thorough."
He added: "Once an attorney gets a clear picture of a client's finances and estate, they can help them decide how their assets should be split after passing, and who should manage these affairs during their lifetime by assigning a power of attorney. For example, if a person becomes incapacitated, they will have already appointed a trusted third party to execute any financial and healthcare decisions."
"But the key is not to leave estate planning until it is far too late to react. Planning today means peace of mind tomorrow."
Source: http://RecommendedExperts.biz
Contact Info:
Name: Dennis Toman
Email: Send Email
Organization: The Elderlaw Firm
Address: 403 W Fisher Ave, Greensboro, NC 27401
Phone: 336-378-1122
Website: https://www.elderlawfirm.com
Release ID: 89184814
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