Estate planning: Expect the unexpected

On Behalf of | May 10, 2022 | Estate Planning

While no one can know with certainty what will happen in the future, there are steps one can take that will allow him or her to have a measure of security over specific matters. Estate planning provides the opportunity for a North Carolina adult to plan for certain contingences and protect the interests of loved ones. Expecting the unexpected can provide peace of mind and give one confidence regarding his or her long-term interests. 

Estate planning steps 

There is no one-size-fits-all solution for estate planning. Everyone has different needs according their concerns and objectives for the future. The following are basic estate planning steps designed to plan for the unexpected: 

  • Draft a will, a step that allows an adult to name a guardian for minor children and decide what happens to assets after death. 
  • Establish a trust, a step that provides the opportunity to set aside and protect assets for a specific use in the future. 
  • Draft powers of attorney, documents that name an individual to act on one’s behalf in case of incapacitation. 
  • Create waivers, a step that allows someone to have access to sensitive or personal information in case of an emergency or death. 

These simple steps can help one prepare for possible events in the future. 

Don’t delay the estate planning process 

Estate planning is for everyone. If a North Carolina adult does not have a plan in place, there is no time to lose in creating a long-term legal and financial plan. It may help to discuss how to expect and plan for the unexpected with an experienced estate planning attorney.