Some integral components of an estate plan are a will, the transfer of power of attorney, creating a trust and assigning a health care proxy. There are both federal as well state laws which govern the estate plans so it would be better to consult an attorney while you prepare your estate plan. Things you need to do for estate planning include three major components: an inventory of all the assets owned by you, a will and assigning of power of attorney. 

Start with an inventory of all the assets that you own. These include the investments, savings, retirement funds, insurance policies, real estate and stakes in business. You need to allocate your assets and for this you would have to make a will which is updated regularly to keep up with the changes in your life.

You also have to assign the power of attorney to someone who would be able to make financial and investment decisions on your behalf. This person also makes insurance as well as medical decisions in case you become incapable or incapacitated. If you die without preparing a will then your inheritance would be quite costly to your legal heirs because dying intestate or absence of a will mean an expensive and long probate process.  

You can also opt to create a trust which can look after and protect your business and charity interests even in your absence. A trust is a legal device which instructs as to how and where your assets and wealth would be distributed or handed over. It is pretty important that you know all the federal and state laws which govern the estates so that you plan the estate accordingly. You must familiarize yourself with the gift taxes and ways to reduce the taxes. 

It is advised that you meet up with your financial advisor or planner and make a clear and lucid inventory of all the life long savings which you have and then work with an attorney on the estate planning. But do educate yourself about the taxation laws and research on the subject to find out how you can ensure the safety of your loved ones even in your absence and keep the estate plan up to date and in tune with today’s laws.  

For funeral arrangements Guatemala, you need to direct the funeral director about your requirements, wants and budget. Have a through discussion with him or her and direct them in detail about the type of service wanted. You must also look at the merchandise offered and it is always better to shop around and compare the services offered by various funeral homes and their quotes as to how much would a funeral arrangement done professionally cost you.  

Funeral arrangement includes transporting the body, keeping it for viewing by family and friends, arranging flowers for floral tributes, arranging for lunch and drinks for guests, making seating arrangements and obtaining legal permission for burial or cremation.

Placing an obituary announcement is also a part of funeral arrangement as is getting the death certificate from government authorities. The clergy also have to be contacted and briefed about the type of service which the deceased wished to have. Cremation and scattering of remains or ashes requires permission from legal authorities so that too has to be looked after. A lot of work goes into arranging a funeral and if you feel that you can not handle everything by yourself then you can get it arrange by a team of professionals. For this you would have to look in the local yellow pages and locate a funeral home which is ideally in your area or where you live. 

The funeral director works with a team of trained people who are perfect to handle these preparations. Funeral homes offer customized and individual services for clients because all families follow different customs and traditions and rites to say goodbye to their dear one. They also offer packaged services which mean that different set of groups of services come with different charges or prices. You can select any one which you feel suits your requirements perfectly. You can either hand over a part of funeral arrangements to the funeral home or all of it depending upon your convenience.

Article by Dunbar Winston of FuneralesReforma, who is a specialist in hispanic estate planning. For more information on funerarias Guatemala and funerarias Guatemala, visit his site today.