A famous saying goes: “There are two things you can expect in life – taxes and death!” However, many individuals, when planning for retirement, do not plan for their end of life care. This leaves their families with questions and tough decisions to make.
At the Thornton Law Firm, we have many families that had trouble making these difficult decisions. However, we help our clients to make sure they think through the tough decisions they may face at the end of their lives.
3 things everyone needs to do when planning for their retirement and end of life care are:
- Create a Will: Have a great, Raleigh estate planning attorney help create a will. An estate planning attorney can help think through things and help advise on important decisions that need to be made.
- Determine a Power of Attorney: Many of the end of life decisions comes down to who has the power of attorney in the situation, whether it be for financial decisions or health care decisions. Work with an attorney to choose the right individual.
- Plan for Estate Taxes and Creditors: Many individuals don’t know that their estate may taxed after their death. Even if their estate isn’t subject to taxes, many of their assets may still be exposed to the claims of their creditors. Make sure an estate planning attorney or financial advisor in Raleigh has reviewed your situation and walked you through the potential costs as well as explained how some of these issues maybe avoided.
Does this all sound like too much to think about? That is exactly what I do! I sit down with my customers to learn more about their specific situation. Then, I help them make the decisions for their end of life care.
Some clients have very special medical situations or family needs that will impact their estate plan and long term care plan. No matter what the situation, the Thornton Law Firm and myself, Chad Thornton, would love to help your family!