Every New Year people make resolutions. Gyms sell the most memberships in January. Diet programs and food plans also have an increase in sales. How many of us has vowed to lose weight, exercise, stop smoking, make a doctor’s appointment for a full physical, or start a new hobby. We make these resolutions with the best intentions. I’m sure we have all been there. We fall off the wagon, so to speak, before January comes to a close.
Why not do something different this year and make a resolution you can keep, and you will be protecting yourself and your family in the process. Give yourself a legal checkup for 2023.
Answer the following questions.
- Do you have a will? If not you need one.
- If you do, does it need to be updated? Are you recently divorced, suffered the loss of a spouse, or adopted or had a child? Have your assets changed or significantly increased or decreased? If you answered yes to any of these questions your wills need to be updated.
Death is a part of life, and it is difficult enough for you, for your loved ones who will suffer and grieve for you. You don’t want to make it more difficult for them during this very trying time if your affairs are not in order.
3. Do you have a healthcare proxy? Who will be making medical decisions for you if you are unable to? If you had an wife or husband as your proxy and are now divorced best to change that immediately. Or perhaps the person named is now ill or deceased.
4. Are you getting older? Have you thought about what will happen if you are unable to manage your own affairs such as banking, preparing taxes, managing retirement accounts, paying bills? You should consider a power of attorney which will take effect if you are unable to act. Your agent will be able to stand in your place and continue business as usual.
5. Are you retired. Do you hope to leave your children and your spouse your estate? Do you want to lose the legacy you worked your entire life for? If so, you will want to discuss elder-care planning to avoid being divested of your assets to pay for in home care or a nursing home if you become incapacitated or need full time care.
6. Are you thinking of remarrying? You might want to consider a prenup to protect your assets especially if this is a second marriage or there is a business or practice at stake. If you are married you cannot disinherit a spouse unless there is a waiver such as in a prenup.
7. Do you want your family to have to probate a will when you are deceased or do you want to save them the dela, time and legal expense by creating a trust?
8. Do you have any other legal matter you need to address.
Keep the resolution to be “legally fit.” Simply call and make and appointment with DePalo Law Firm. We will get you in legal shape without you having to do any of the work. We are here to help make 2023 a very good year and give you the much needed peace of mind you deserve.
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