All About Estate Planning
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Setting up a will or trust is for everyone and not just the selected few or the wealthy.
The most important thing you can do for your family is setting up a will or a trust. It helps bypass the court system to distribute your asset to your loved ones. Without legal documents, the assets will have to go through probate which can take from 6 months up to a few years. Under the court system, when we are deceased, it is deemed that all our asset is properly distributed.
It makes the management of your asset clear for everyone involved minus the stress and expenses of fighting in court. Along with setting up a will, a financial power of attorney and medical power of attorney is equally important. When you can no longer make decision for yourself due to health reason, someone you trust can have the power on to speak on your behalf based on your wishes.
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