Whether giving time or money, most people take joy in engaging in charitable endeavors. Of course, with life's stress getting in the way, a lot of individuals find it challenging to give back as much as they would like. Fortunately, there is a way for these individuals to further identified charitable organizations while benefiting themselves and their heirs.
Reasons to modify a will
A will can be a critical part of an estate plan. It can help delineate how assets will be distributed upon an individual's passing, and, when clearly written, it can prevent disputes from arising. However, a will is only effective if it accurately reflects an individual's wishes at the time he or she passes. This means that the mere creation of a will is not enough. Instead, those who create a will should revisit the document to ensure that it clearly reflects their wishes in the midst of life changes.
Estate planning and the durable financial power of attorney
Most people think that estate planning only consists of a detailed account of how one's assets will be distributed upon his or her death. While this does make up a substantial portion of estate planning, it is not the only thing that needs to be considered. Another important element of estate planning is how one's medical and financial affairs will be handled in the event that he or she suddenly becomes unable to make decisions pertaining to those matters on his or her own.
