When creating an estate plan, a person should plan for everything a loved one may need. However, some assets are often overlooked. Maryland residents who are making an estate plan should include electronic devices and online accounts as well as physical assets.
Many choices are available when a person decides that he or she is ready to plan for his or her future. Creating an estate plan is beneficial to people who are just starting out in their adult lives and those who are ready to consider retirement. Maryland residents who are considering making plans for their futures will need to know a few key points to consider.
Dementia can attack anyone, so all Maryland residents should plan for a future that could require help from a loved one. Putting a power of attorney in place before this happens is essential. The papers that need to be addressed can be done so with an attorney, but many different types of papers have to be considered.
Advanced directives are important for Maryland residents, even if they do not realize it in time to make a difference. One older man recently found out that he probably has lung cancer and that he is in the stages of dementia. He is unable to make end-of-life decisions for himself and does not have a living will.