Thoughts about estate planning

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Estate planning is most often equated to writing a will. Given the nature of the document, many people think that estate planning is simply for people who are nearing their death. This is a very common misconception.

Although estate planning is certainly suitable for people who are dying due to old age or sickness, candidates for estate planning are not limited to those persons alone. In fact, any major lifestyle change should always be followed by estate planning. These lifestyle changes include having children, getting married, or inheriting.

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Another misconception regarding estate planning is that the only legal document involved is a will. EBut estate planning also includes preparing a power of attorney wherein a person authorizes another to make legal and financial decisions on their behalf in the event he or she becomes unable to make the decisions. In addition, your estate planning should include a medical care power of attorney to name the persons who will make medical decisions for you if you are unable to do so.

Daniel E. DeKoter obtained his juris doctorate at the University of Iowa in 1980 with high distinction, having graduated with a B.A. in Philosophy and English at Calvin College in 1977. He practices in civil litigation, business and employment law, and estate planning and administration. Read more about estate planning by visiting this page.

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