So many times, we have heard heirs say how thankful they are that their loved one had taken the time to make arrangements for their estate. Planning for the future of your surviving spouse, children and grandchildren is critical to passing property to your loved ones upon death. Whether you have a little or a lot, we can counsel you through the estate planning process and help you provide for an orderly distribution of your assets, whether that distribution is by will, trust, transfer on death documents, or a combination of these documents. Your surviving heirs will thank you.
Power of Attorney
A power of attorney is a legal document that allows you, the principal, to appoint an agent to act for you. It is important that you pick a trusted individual. The power of attorney can give the agent the authority to make financial decisions and/or healthcare decisions on your behalf. A general power of attorney terminates when the principal becomes incapacitated. A durable power of attorney maintains the power of attorney after the principal becomes incapacitated. With any power of attorney, the authority granted to the agent terminates upon the death of the principal.
The living will, also referred to as an advance directive, provides that if two doctors agree that you will not recover from a terminal illness, serious injury, a coma, late-stage dementia or are near the end of life, then your life will not be artificially prolonged, and you will be allowed to die naturally. Medicine and procedures for comfort care may still be administered. Unexpected situations can happen at any age, making it important to prepare for the medical care you want and avoid unnecessary suffering. You will also relieve your loved ones from the burden of making the decisions for you during moments of grief or crisis.
A trust is a fiduciary relationship in which a trustor gives a trustee the right to hold property titles or assets for the benefit of a third party. A trust can be used in place of a will to avoid probate. A trust can be drafted so that it is either revocable or irrevocable.
Last Will and Testament
A last will and testament allows an individual to plan the distribution of their estate to their chosen beneficiaries. The form also allows the creator to delegate a trusted executor. The document may be amended or revoked by the individual should they wish. We will listen to your concerns, explain your options thoroughly, and direct you toward the legal solutions that will best fit your needs.