You've worked hard to amass your wealth, and now it's time to decide who gets what. Wills and Trust help you ensure your assets go to the right person after you pass. A will is a legal document that outlines your wishes regarding the distribution of your assets after your passing. On the other hand, a trust provides greater flexibility and control over asset management, allowing you to set conditions and provide ongoing support for beneficiaries. Trusts also offer privacy, avoidance of probate, and potential tax benefits. Wills and Trust are an opportunity for you to script your narrative of generosity, allowing you to distribute your assets in a way that aligns to your values.

Let's talk about the little ones, both human and four-legged. It's crucial to have a plan in place to ensure they're well taken care of if you're no longer around to do it yourself. A guardian is responsible for the care and well-being of your children if you and the other parent are unable to do so. Similarly, a trustee manages and administers assets set aside for the benefit of your minor children or individuals who may not be capable of managing their inheritance. Carefully selecting trustworthy individuals ensures that your loved ones receive the care and support they need.

Life is unpredictable, but with a durable power of attorney, you can ensure that your interests are protected if circumstances take an unexpected turn. That's where powers of attorney come in. Designate someone you trust to make financial and medical decisions on your behalf if you become incapacitated. By appointing a trusted person as your attorney-in-fact, you ensure that your financial affairs are properly managed, bills are paid, and decisions are made in your best interest. Without a durable POA, the court may need to appoint a guardian to handle your affairs, resulting in unnecessary expenses and potential disputes.

The journey of life is deeply personal, and so are the decisions surrounding medical care. Medical decisions can be tough, especially when you're unable to make them yourself. Medical or healthcare directives, including a living will and a healthcare power of attorney, give you the opportunity to articulate your preferences, ensuring that your voice resounds even in moments of vulnerability. They allow you to express your wishes regarding medical treatment and end-of-life decisions. A living will outlines your preferences for life-sustaining treatments, resuscitation, and organ donation. A healthcare power of attorney designates a trusted individual to make medical decisions on your behalf if you are unable to do so. These directives give you peace of mind and ensure that your healthcare choices are respected.

Beneficiary designations ensuring your assets go directly to the people you love, without any unnecessary court battles. They are crucial for assets such as life insurance policies, retirement accounts, and payable-on-death bank accounts. By specifying beneficiaries directly on these accounts, you ensure that they bypass probate and transfer directly to the designated individuals. Regularly reviewing and updating beneficiary designations is essential to align them with your overall estate plan.

A life well-lived should culminate in a celebration that honors your spirit. Including your funeral arrangements in your estate plan helps you leave behind a blueprint for a meaningful gathering that carries your legacy forward. You can outline your preferences for burial or cremation, funeral ceremonies, and any specific wishes you may have. This relieves your loved ones of the burden of making difficult decisions during an emotional time and ensures that your wishes are respected.

In today's digital age, it is important to consider the management of your online presence and digital assets. Providing account information for photos, emails, social media, and cryptocurrencies allows your loved ones to access and manage these digital assets according to your wishes. This prevents the loss of valuable memories and ensures that your digital legacy is preserved.

You are more than what you own. Beyond the tangible aspects of estate planning, preserving your memories, values, and traditions is equally important. Modern estate planning services like LVED provide the opportunity to record personal messages for your loved ones, allowing them to hear your voice and words even after you're gone. Additionally, creating a digital scrapbook of your life's journey ensures that future generations can learn about and appreciate their family history.

A legacy plan isn't a one time and done thing. As your life changes and laws in your state change it's critical that you review and keep your plan up to date. Your plan should be shared with your partner, attorney or physician. A perfect plan no one can find when it matters is useless

Legacy planning is your opportunity to safeguard the ones you love and ensure what you care most about, what you've worked hard for and the values you treasure are passed on. Incorporating wills and trusts, guardians and trustees, durable power of attorney, medical directives, beneficiary designations, funeral arrangements, digital asset management, and the preservation of personal messages and memories allows you to address every crucial aspect of your estate. Remember, you're not just protecting your assets; you're safeguarding the well-being of those you hold dear.

At LVED, we have created a simple and modern way to protect the ones you love. LVED will craft the perfect legacy plan for you and your loved ones and guide you to keep it always legal and up to date. You get everything in one secure place, instantly available when needed. And as life happens, and the law changes we'll keep everything legal and up to date.