Living with a Will  Preparing for the Inevitable can be a Relief

Living with a Will Preparing for the Inevitable can be a Relief


 

General business lawyer

Having a living will in writing is something that greatly benefits those you leave behind, and can also save them quite a headache. Without proper legal documents, estate funds are subject to taxes and probate and those surviving you will need legal service, in addition to the greif of losing a loved one. Despite this, an alarming 64% of all Americans have no official will, and in the age rage of 55-64,51% have no living will.

guardianship lawyer can appoint a legal guardian for a person when it becomes necessary, unlike a Durable Power of Attorney, who is appointed ahead of time by a person who most likely has a will in place. Guardianship is necessary for a child whose legal guardians are not able to care for them, or when an adult is incapable of making their own decisions about health care. Appointing a Durable Power of Attorney to make healthcare decisions can cost $500 to $1500 in legal fees, but a guardianship lawyer needed to appoint a legal guardian can be costly as well.

You should plan to have a trust as well as a will if you have assets higher than six figures, and should still have a Durable Power of Attorney. On the other end of the wealth spectrum, those on Medicaid can benefit from a Medicaid planning attorney to help navigate wills and plan for end-of-life healthcare. In the state of Alabama, 563,000 children are enrolled in Medicaid, which is nearly 50% of the state’s children, and it is probable that many more are eligible. Overall, about 1/5 of the state’s population uses Medicaid. It is still important in this situation to have a living will and to discuss wishes for healthcare with loved ones. Affordable legal advice may be available as well as help setting up a will and Durable Power of Attorney.

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