Estate Planning Basics

You need to know 3 estate planning basics to protect yourself, your family, and your stuff.

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TRANSCRIPT

Hi, I’m Gary DeWitt, Estate Planning Attorney in Northwest Arkansas.

First of the estate planning basics

Estate planning is not only about distributing your stuff after you’re gone, but about protecting it during your lifetime. This is done with Revocable Living Trusts and Durable Powers of Attorney.  Trusts name a second and/or third person to manage all the property in the trust if you can’t manage the property yourself.  Durable Powers of Attorney name a trusted person, your “agent,” to make financial and legal decisions during periods of time you can’t or won’t.  Another advantage of a Durable Power of Attorney is that it can stop a Judge from ripping your rights away in a guardianship.

Second of the estate planning basics

Planning is about protecting your healthcare during your lifetime.  If you are unable to make medical decisions, doctors have their choices laid out for them by law and their code of ethics.  This may not be what you wanted.  By executing a Durable Healthcare Power of Attorney and a Medical Information Waiver (a HIPAA Waiver), you name a trusted person as your “agent” to help make healthcare decisions in your place.

Third of the estate planning basics

Planning is about distributing your stuff.  This is the realm of Wills, Revocable Living Trusts, and other trusts.  You decide who gets what and when.

You are invited to call with your questions or to get my free book, “Secrets of Excellent Estate Planning”. The book is also available on my website.

I will show you how to protect what you have today, and what you leave your kids tomorrow.  You’ll be able to take advantage of my estate planning legal strategies without you or your loved ones having to deal with Probate Courts, long estate settlement delays, and death tax.