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Estate Planning Questions Among First-Timers
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Estate Planning Questions Among First-Timers

November 5, 2021 by Richard Gershberg

One of the most common reasons our clients provide for putting off estate planning is that they just don’t want to think about the “what ifs.” At Gershberg and Associates, we know you don’t want to think about your death or incapacity, but we also know the benefits of an estate plan and the comfort an effective plan has to offer is considerably better than the alternative. Perhaps more significantly, we are all too familiar with sorting out the disasters that can occur when a plan is essentially non-functional or worse – when there is no plan at all.

We’re here to remove that stress from your life.

Estate Planning Questions Among First-Timers

Here are some of the most important questions to answer as a first time estate planner:

  • Who do you want to receive your assets upon your death? Everyone has something to protect for the future and it is important to ensure that your assets will end up in with the right person or people upon your passing. You can accomplish this either with a will or a trust.
  • Who do you want to make important decisions on your behalf if you’re incapacitated? For example, if you’re incapacitated, the agent named in your financial power of attorney can step in to manage your affairs. You can outline how much power this person has, such as the ability to pay your bills, cash checks, and manage investments on your behalf.
  • How will you pay for long-term care should it be necessary in the future? It’s sobering to think about, but it’s a must if you want to create a comprehensive estate plan. Don’t let your young age and good health fool you into thinking that you don’t need to consider this. Know your options.

Consider these questions, among others, and you will see the benefits of early planning.

If you need any help along the way, contact our law firm for professional guidance. We’ll make sure the process is pleasant and your first estate plan considers your questions and concerns. You will find that peace of mind can have incredible value.

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Richard Gershberg
Richard Gershberg
Attorney at Gershberg & Associates, LLC
Mr. Gershberg, an active member of his community, is well aware of the growing importance of estate planning, and dedicates himself to informing the public of the need for careful attention to their specific situations.
Richard Gershberg
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Gershberg & Associates, LLC

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Gershberg & Associates, LLC
11419 Cronridge Drive, Suite 7
Owings Mills, MD 21117-6281
Phone: (410) 654-3850
Fax: (410) 654-3880

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Owings Mills Estate Planning Attorney Richard L. Gershberg is proud to serve the Owings Mills, Maryland and surrounding areas.

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