Estate planning involves putting your affairs in order so that when you pass away or become disabled, those you trust the most can provide you with the assistance you need and to ensure that everything you worked so hard for during your lifetime gets passed on to the people you wish to receive them after your death. We can help you administer a loved one’s estate while they are sick, disabled, or mentally incompetent. We can also help you to manage a loved one’s affairs upon his/her death.
We prepare Wills, trusts, powers of attorney, deeds, and other documents necessary to make sure that your desires are followed when you are no longer able to direct others to handle your affairs, whether that reason is travel, incarceration, disability, mental incompetency, or death. Please contact our office for an appointment if you think you may need any estate planning services.
WHAT IS A WILL?
A Last Will and Testament is a document that provides directions to family or friends that you trust to distribute your property after you have passed away. If you have a child or spouse that you do not wish to see inherit your property upon your death, a Will can ensure that your wishes are carried out. If you have no family, a Will allows you to direct who you would like to see benefit from all of your hard work when you have passed away.
WHAT IS A POWER OF ATTORNEY?
Powers of Attorney are documents which we prepare that allows someone else to manage your affairs or make decisions on your behalf when you are unable to do so on your own. There are powers of attorney for specific acts, like selling a home, or general powers of attorney which allow your spouse or loved one to manage your financial affairs or make health care decisions for you when you are unable to do so.
WHAT IS A LIVING WILL?
A Living Will and a Durable Power of Attorney for Health Care with a Physician’s Directive are one and the same. It is a document that states who you wish to make decisions for you when you are unable to tell medical professionals what medical procedures you wish performed on you in an emergency, whether or not you want to be resuscitated if you are in a vegetative state or on life support, whether or not you are willing to accept blood transfusions in an emergency, and dictates to your physician which medical procedures you are unwilling to submit to when you are unable to speak for yourself.
WHAT IS A TRUST?
A trust is an entity you establish through a trust declaration for the benefit of others. To create a trust you need (1) the trustor (the creator of the trust); (2) a trustee (someone to administer the trust according to your wishes); (3) a beneficiary (which, during your lifetime can be you); and (4) a trust estate, or assets or benefits you wish to pass on to your beneficiary. There are many kinds of trusts and the purpose and intent of the trusts can vary.
Our office creates a variety of trusts depending on the needs of our client. We prepare Special Needs Trusts for beneficiaries who are disabled, incompetent or unable for some other reason to manage money, revocable trusts that can be terminated or changed at any time during your lifetime and irrevocable trusts that cannot be terminated or changed to ensure that your needs and desires are followed when it comes to your property or finances.