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    Estate & Probate » Blog » Five Members of Your Estate Planning Team

    Five Members of Your Estate Planning Team

    While estate planning is focused on the personal issues of your incapacity or death, it is still a team strategy. The strongest estate plans make use of a team, with each individual performing unique tasks to make sure that your goals are satisfied. It can be confusing, at first, to distinguish the role each individual plays in achieving your goals. ATo help you better create an ideal estate plan, the following reviews some critical parties who can help you make the most of your estate plan.


    A beneficiary is anyone who receives a beneficial interest in something of value from your estate. While a wide range of individuals can function in the role of beneficiary, it is important that a beneficiary has the maturity necessary to manage assets received from an estate. 


    CPAs as well as accountants have an intricate understanding of tax laws and can make sure that you create an estate plan that makes the most of available tax frameworks. No estate plan is ever really complete until it takes valuable aspects like transfer taxes into consideration.

    Financial Power of Attorney Agent

    Durable powers of attorney are utilized to designate an individual to handle various financial and legal matters. These documents are effective immediately, which means they can be utilized to avoid guardianship proceedings. The person who is appointed to act as a financial power of attorney must be someone you trust because this individual will have complete access to your financial assets and can even sign your name to financial documents.


    If you have children under the age of 18, it is critical to name a guardian as part of your estate plan. This is because, in the eyes of the law, minors are prohibited from owning property and similarly are viewed as incapable of taking care of themselves. While the individual appointed as guardian is often a family member, it need not be. Instead, a guardian can be anyone you trust with watching over your children.

    Medical Power of Attorney Agent

    Agents appointed under medical power of attorney documents are tasked with making healthcare decisions in case you become unable to make decisions for yourself. Most people familiar with the estate planning process advise that the person appointed to make these medical decisions should be different from the person tasked with deciding financial issues.

    Contact a Seasoned Estate Planning Lawyer

    After creating an estate plan, it is a good idea to routinely revisit your plan to make sure that it continues to express your needs and values. If you need to make changes or add additional parties to your estate plan, an estate planning attorney can answer any questions you might have and help create a strategy to make sure that your goals are achieved. Contact attorney Jim A Lyon today to schedule a free case evaluation.

    Ethan Moran
    Ethan Moran
    09:36 28 Dec 22
    To my wife and I, our probate case was complicated. Not to Jim! He made it look so easy, and his attention to detail is incredible. Highly recommend to anyone seeking an estate planning lawyer.
    Philippe Joshua
    Philippe Joshua
    17:56 30 Nov 22
    Jim's firm was referred to me by a friend who knew I was looking for an estate planning lawyer. I can't say enough good stuff about him. He's genuine, thorough and highly skilled. Strongly recommend.
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    Estate & Probate » Blog » Five Members of Your Estate Planning Team