Proper patient guidance is key before surgeries involving dental lasers take place. The same is true for will preparation. Before lengthy court disputes or costly dental laser procedures, the individual has the option of learning the essentials and implementing the best choices for their needs.
Estate planning services give clients the opportunity to learn more about the options available to them. Dental care does the same. However, many of the essentials of dental care are well-known, even taught in schools and public health programs. Rarely are financial keys to success like parts of an estate plan taught to children and even adults. The lucky group who does learn about their opportunities through research, education or relationships benefits by being able to make more informed decisions.
Notable non-profit and school programs are working to make financial literacy for children just as rudimentary and available as dental care guidance. If you missed that part in your school’s curriculum, here are some basics for review.
Basic Parts of An Estate Plan:
A will is a legal way to address the assets in your life: to decide who you would like to have them at the time of your passing. Not creating your own will leaves your estate planning, the distribution of your life’s assets, to the state rather than your own preferences. Assets which need to be taken into account include: insurance, investments in real estate, business and retirement funds.
Power of Attorney
Usually mentioned in prime-time television and shows involving medical care, a power of attorney is responsible for making financial, estate and other key decisions on behalf of an individual when they are no longer able to do this themselves. The range of decision-making power can be specialized and limited.
Health-care proxy refers to the power of attorney related to medical matters. In the event that you are unable to communicate and make decisions about your health care, this person will have the ability to carry out your wishes.
A trust is an option that some say is under-utilized for the benefits it entails. Those benefits relate to the amount of power the person creating their will can have when it comes to preventing future litigation, costs and some taxation. With a trust, for some asset distribution, probate court can be avoided. And that also means preventing certain delays and eliminating costs. In addition, some trusts allow extra protection against creditors.
Surgeries involving dental lasers can be the consequence of multiple dental care miss-steps. Reducing the need for intervention has been done through proper education. With financial and estate planning information, a similar feat may be accomplished.