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Thursday, June 24, 2010

The Importance of Keeping one’s Affairs in Order


Actor Gary Coleman died May 28, 2010 from a brain hemorrhage after suffering a fall in his home. Three weeks after his death, he was finally cremated after weeks of legal battles. Since Mr. Coleman’s death, two wills have surfaced, one allegedly created in 1999, and an addendum to a will dated 2007 that names his former wife as sole heir to the actor’s estate.

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Here is just one story where the importance of keeping one’s affairs in order could have avoided the confrontation and legal battles that followed the actor’s death. Whether celebrity or not, proper planning for the inevitable may avoid the confusion and frustration, and legal/money scuffles after your death.

Last Will & Testament
You have worked your entire life to create a legacy to be passed on to your family, why not execute a Will that will protect your property, your family and carry out your wishes after you are no longer here to oversee how things are carried out. Plan now to protect for later.

Besides distributing property, your will may name a guardian for any minor children. It may also name a personal representative/executor to carry out the terms of the will. If you have pets, you can even name a guardian and provide arrangements for their care. Additionally, with a will you can create a trust and designate a trustee to handle the estate.

Talk with your family, discuss your wishes and then execute legal documents (wills/trusts) that will carry out those wishes long after you’re gone.

Advance Directive
Gary Coleman’s ex-wife, Shannon Price, ordered doctors at Utah Valley Regional Medical Center to disconnect his life support a day after he fell into a coma. With an executed HealthCare Advance Directive you prepare in advance for the inevitable.

The Advance Directive allows for you to inform your health care providers of your medical wishes in case something where to occur that would leave you unable to communicate your wishes to your doctor/hospital/family members and allows for you to designate a health care agent to make sure that your wishes are carried out, and to make decisions on issues not addressed in your Advance Directive in your best interest.

The Advance Directive normally involves these types of issues: Admission and/or Discharge from Hospital, Hospice, Nursing Home, or other medical facility; Request to Receive Protected Health Records as your Personal Representative under HIPAA; Withholding/Withdrawing Life-Prolonging Procedures; Withdrawing Food & Water (Artificially Administered Nutrition & Hydration); Palliative Care; Authorizing Organ, Tissue or Body Donation; Authorizing an Autopsy; Authorizing Disposition of Your Remains; Nominating a Guardian; and Pregnancy (you may indicate whether or not you want Health Care directions carried out in the event of your pregnancy). However, with an Advance Directive, you may specify your care for different situations, or if you wishes are simple, you may leave all decisions to your health care agent to act in your best interest.

We know that NO ONE wants to plan for the inevitable; however, having the proper estate planning protections in place is an investment in your future and the future of your family. We all are aware of the legal battles and emotions that may arise from conflicting legal documents and disgruntled family members, so it is best to discuss these issues now and put them in writing for later so that hopefully, your wishes are carried out when the time comes.

Our helpful and capable staff invites you to contact us today to schedule an informative, 30 minute free, initial consultation with an estate planning attorney.

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