I Want To Plan My Estate

Estate planning is designed to help you manage and preserve your assets while you're living and conserve and control them according to your wishes after youre gone. But estate planning is not one size fits all.

Depending upon your age, income, lifestyle and goals, your estate planning needs vary.  If you own a modest size home and have minimal assets, you may only need a will to carry out your wishes. And if you own multiple residences and have a variety of investments in your portfolio, you may need a more sophisticated plan such as a trust.

PLJ Advisors is experienced and committed to helping you tailor your estate plan to fit your needs.

Who Should Consider discussing Estate Planning? All adults should consider having an estate plan since you never know when incapacity or tragedy may strike.

You should consider:

• A durable power of attorney: This document lets you name someone to manage your property for you in case you become incapacitated and cannot do so.
• An advanced medical directive: The three main types of advanced medical directives are (1) a living will, (2) a durable power of attorney for health care (also known as a health-care proxy), and (3) a Do Not Resuscitate order. Be aware that not all states allow each kind of medical directive, so make sure you execute one that will be effective for you.

Fabulously Young and Single
Young single adults may not have much of a need for estate planning. If you own some important belongings, a will should suffice.  If you dont have one, any wealth youve accumulated will likely go to your parents or guardian, which may not be what you want.  A will allows you to decide who gets your belongings (siblings, significant other, relatives, charity, etc.)

Unmarried couples/Domestic Partners
If youre living together but arent legally married, a will is crucial if you want your partner to receive your property. The law requires your belongings go to your closest living relative and without a will, your partner has no recourse. You may also want to consider owning any property or belongings such as a car or house as join tenants so if one of you dies, the property automatically passes to the surviving partner.