HCR Wealth Advisors is a company that was established in 1988, and they specialize in wealth management and other financial services. The company is also helping their clients on where they should invest their money, and what strategies they can develop to build their wealth. Aside from the financial services that the HCR Wealth Advisors provide, they are also assisting their clients with estate planning, which is a booming industry in the United States. There are several documents that can be part of an effective estate plan, and these are wills, the powers of attorney, and the advanced health care directive.
The will is described as an official document which shows the names of people who will be inheriting your wealth in case you die. Children of legal age can claim their inheritance, while children who are still minors would still need to wait until they reach legal age. Their inheritance will be given to a guardian, and it will be monitored by the lawyer who has helped you create your will. HCR Wealth Advisors advises their clients to consider creating a will, especially when they are creating their estate plan. It helps them to feel secure about their children’s future, and the company also offers these services to individuals who may be looking to revise their estate plan.
The durable powers of attorney, on the other hand, can encompass your finances and healthcare. It would mean that someone from the family would have the authority to make decisions regarding the management of your wealth and health if you become incapacitated. This is an important part of estate planning because someone on your behalf would still continue the decision making. The most important thing to think about when appointing someone who would manage your estate is trust, and most people who have asked for a durable power of attorney has appointed a loved one to take care of the decisions on the management of their wealth and health. In the end, these documents can help to make a person feel more secure as they are certain how their estate will be handled in the future, especially if they are working with the HCR Wealth Advisors.
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