Most people think about estate planning when something changes. A marriage. A diagnosis. A loss. The birth of a child.
But estate planning is often most effective when life feels stable.
When things are calm, you have the opportunity to think clearly about who you trust, who you want making decisions on your behalf, and how you want your wishes carried out if you're ever unable to speak for yourself.
Estate planning is a powerful tool because it allows you to make those decisions in advance. Rather than leaving important choices to chance or asking loved ones to guess what you would have wanted, an estate plan gives you the opportunity to put your wishes in writing.
Estate plans typically consist of a Last Will and Testament, a Financial Durable Power of Attorney, and a Health Care Power of Attorney. Depending on your circumstances, you may also want a Living Will or a Transfer on Death Deed.
Planning Ahead
Estate planning is best completed when things are stable. It allows for a clear mind when making decisions regarding who you want to be involved when you are most vulnerable or unable to speak for yourself.
One of the most meaningful aspects of estate planning is that you get to decide who is speaking for you, and it does not have to be a blood relative or family in the way society traditionally defines family.
For example, a Health Care Power of Attorney allows you to name the person who will make medical decisions for you if you become incapacitated. That person can be a spouse, a partner, a close friend, or someone who feels like family. The law does not require you to choose a blood relative.
Without a Health Care Power of Attorney in place, however, medical providers may look to immediate family members for answers and decision-making. For some people, that may align perfectly with their wishes. For others, it may not.
Defining Family on Your Terms
What feels like family is different for everyone.
For many LGBTQ+ individuals, long-term partners, blended families, and people whose closest relationships are built through friendship and chosen family, estate planning can be an important way to ensure the people who matter most are legally recognized when important decisions need to be made.
That can be especially important when legal relationships and personal relationships do not always align.
Many people are in committed relationships and never intend for those relationships to become marriages. Others have close friends who have become family in every meaningful sense of the word. Estate planning allows your legal documents to reflect those realities.
A Financial Durable Power of Attorney can allow someone you trust to manage financial matters if you become unable to do so yourself. A Health Care Power of Attorney can allow that same person to make medical decisions on your behalf. These documents help ensure the people you trust most are the people who can act when it matters.
A Plan That Reflects Your Life
It is similarly important to know that your loved ones are cared for after you pass.
As we know, loved ones and blood relatives are not always the same thing.
A Last Will and Testament allows you to decide who receives your property, who will administer your estate, and how your wishes will be carried out. You can leave your assets to the people and organizations that matter most to you, and you can decide who will be responsible for carrying out those wishes.
Estate planning allows you to name your chosen family as beneficiaries, personal representatives, and powers of attorney. It allows your legal documents to reflect your relationships, your values, and your wishes.
Most importantly, it allows you to make those decisions on your own terms.
We're Here to Help
At McGill Law, we help individuals and families create estate plans that reflect the people and relationships that matter most to them. Whether you're creating your first estate plan or updating an existing one, we're here to help you make informed decisions about the future.
Frequently Asked Questions
What documents are usually included in an estate plan?
An estate plan often includes a Last Will and Testament, a Financial Durable Power of Attorney, and a Health Care Power of Attorney. Depending on your circumstances, it may also include a Living Will or a Transfer on Death Deed.
Why should I create an estate plan when things feel stable?
Estate planning is often easier when life feels calm because you can make decisions with a clear mind. Planning ahead allows you to choose who you trust, put your wishes in writing, and reduce uncertainty for the people you care about.
Can I name someone who is not a family member in my estate plan?
Yes. Estate planning allows you to name trusted people in your life, including a partner, friend, or chosen family member, as a beneficiary, personal representative, or power of attorney.
Why can estate planning matter for LGBTQ+ individuals and chosen families?
For LGBTQ+ individuals, unmarried partners, and chosen families, estate planning can help ensure that the people who matter most are legally recognized when medical, financial, or inheritance decisions need to be made.