Parman & Easterday helps clients to provide for their families and to take control over their own destinies. We do this by providing estate planning services. No one can ever control when they may become sick or injured and left incapacitated, nor can you control when you will pass away. You can, however, make a plan to ensure you know exactly what will happen if something does happen to you. This can both provide you with peace of mind and ensure your family is protected.
An estate plan is something everyone should have, because an unexpected illness or injury could strike anyone at any time. If you live in or around the Oklahoma City, OK, Tulsa, OK or Overland Park, KS areas, we can help. Give us a call today to get personalized advice on creating your own estate plan and to get answers to general estate planning questions including:
- Who should create an estate plan?
- What should be included in your estate plan?
- How does an estate plan benefit you and your family?
Who Should Create an Estate Plan?
You should create an estate plan. This universal answer is true for everyone who is at least 18. You should have a plan if:
- You don’t want your family forced to “pull the plug” or make other difficult choices for your healthcare when faced with a medical emergency.
- You want to control whether you should get CPR, whether a feeding tube should be used, or whether other extraordinary measures should be used to prolong your life.
- You have young children and you want to decide who should be their guardian if you pass away.
- You have children or a friend or relative with special needs and you want to provide financially for that person.
- You want to ensure that your assets are distributed to the people or causes you care about and you want to reduce potential loss due to estate taxes.
- You want to make sure nursing home care can be covered by Medicaid if you need to go into a nursing home, rather than you being forced to spend your whole life savings on nursing home care.
- You have any wealth or assets and you want to make sure that you have someone you trust managing that money or property if something happens to you.
- You have a family business or farm and you want an exit plan – to either sell it or transfer it to the next generation.
Many of these things are true for most people- which is why everyone should have an estate plan. Estate planning involves making sure you and your family are secure during your retirement, during the end of your life, and after your death.
What Should Be Included in Your Estate Plan?
The right legal tools to include in your estate plan will vary based on your own wishes, the assets and property you have, and the unique needs of your family members. Parents of young children or relatives of someone with a severe disability may need to take very different steps than someone with a large estate which will primarily be left to a charity. The individualized nature of estate planning is why everyone should get professional legal help with the process.
The job of an estate planning attorney is to help clients to make full use of legal tools to achieve their goals and to create and protect their legacy. Your plan may include:
- Wills
- Trusts
- Advanced medical directives
- A power of attorney
- A document creating a healthcare proxy
- A living will dictating what kind of care you need
- A Do Not Resuscitate order
These are just some of the many different components which people frequently include in estate plans. You should ensure you both identify the tools you need to use and ensure you have completed all required steps to get the protection you anticipate from making full use of those legal tools.
How Does an Estate Plan Benefit You and Your Family?
The short answer is – your family will know you cared enough to protect yourself if you become disabled and protect them upon your demise. They will see you as someone who values their safety and well-being. And, you will have the eternal peace of mind, knowing you took these steps for the most important people in your life.
Parman & Easterday helps people of all ages and at all income and asset levels with the estate planning process. We work hard to make sure you have provided yourself and your family with certainty about the future by making use of the legal tools available to you. If you live in or around the Oklahoma City, OK, Tulsa, OK or Overland Park, KS areas we can help you.
Don’t wait to create your estate plan until it is too late and don’t leave yourself or your family vulnerable to unexpected problems in case of an injury, illness, or death. Give us a call today at (405) 843-6100 in Oklahoma City, OK, to begin the estate planning process. You can also contact us online to learn more about what we can do for you.
