Comprehensive Estate Planning
Creating a thorough and precise estate plan will ensure that not only will your loved ones and chosen causes receive the assets you’ve bestowed, but also that your trusts are managed as you wish, that your power of attorney is transferred as you’ve decided, and that any advance directives you choose are followed.
We Can Help You Create a Plan to Protect Your Legacy
A trust fund allows you to choose how and when your chosen beneficiaries receive assets, with the assets being held in the fund until that time. The fund is managed by a trustee who is required to follow the instructions you leave. There are several common types of trusts, and each has its own benefits and drawbacks.
A will is probably what most of us think of when it comes to planning for the end of our lives. However, a will actually only covers a small portion of everything that needs to be included in your estate plan. A will allows you to dictate how your assets are distributed after your death, as well as who will care for your children.
Power of Attorney
Aging is a part of life, and having a plan in place in case you fall ill or are otherwise incapacitated is an important part of accepting that fact. Power of attorney is given to the person who will manage your affairs should you be unable to do so yourself. Without a designated agent for your power of attorney, usually, either your spouse or a court-appointed guardian will take control.
First, a medical or health care appoints a health care proxy, which is a person to handle your medical decisions if you are unable to do so. A directive can also include a living will with instructions on the medical decisions you would like made if you fall terminally ill. Medical directives can help your loved ones avoid the turmoil that making these difficult decisions can cause.
Beneficiary designations are somewhat similar to wills, but they actually supersede any conflicting instructions that may be included in your will. This means that establishing your beneficiary designations and ensuring that they are up to date is especially important, as any out-of-date information will be followed. You should check your beneficiary designations at least once a year.
A Carefully Crafted Estate Plan Can Give You Peace of Mind at the End of Your Life
After you’re gone, your estate plan can ensure that you still have a say in what happens to your legacy. Don’t wait to create a plan for the end of your life. Our compassionate probate attorneys can guide you through the process while giving you the attention and respect that you deserve.