Preparing for the Future

Planning for the future is one of the most beneficial things you can do for your loved ones. While it is not something that is generally pleasant to think about or talk about, clients often have a great sense of relief once the process is completed.

Who Needs an estate plan?

Anyone with minor children needs to at least have a will that tells others who they would want to be guardian of their children should something happen to them. This is not a decision that you want left to the courts. In addition, if you want to leave your assets to anyone in any amount that is different that the statutory distribution, you need an estate plan to do that. If you want to decide who will make decisions for you for your health or finances if you are unable to do so, you need powers of attorney. If you want avoid the probate process, you may need a trust or a transfer on death deed.

Wills

A will is a document that you create during your lifetime that determines to whom and in what amounts your assets will be distributed upon your death. Your will also determines who will be in charge of making those distributions (the executor). It is not a “one size fits all” document and counsel from an experienced attorney can assist you in choosing the right document for you.

Trusts

A trust determines who will receive your assets after you pass away. The difference with a trust is that you have the ability to give directions about what happens well into the future, not just at the time you pass away. Trusts are also used to avoid the need for probate through the courts, or to handle complex situations were there may be blended families or business interests to consider.

Powers of Attorney

There are two types of powers of attorney – healthcare and property. A healthcare power of attorney appoints someone to make medical decisions for you in the event you are unable to make them yourself. The property power of attorney appoints someone to make financial decisions for you if you are unable to do so.

Transfer on a death Deed

This type of deed, commonly known as a TODI (transfer on death instrument), allows you to transfer your residential real estate to someone else upon your death. It provides a straightforward way to ensure your home passes directly to your beneficiary without the delays or costs typically associated with probate.

Who Needs an estate plan?

Anyone with minor children needs to at least have a will that tells others who they would want to be guardian of their children should something happen to them. This is not a decision that you want left to the courts. In addition, if you want to leave your assets to anyone in any amount that is different that the statutory distribution, you need an estate plan to do that. If you want to decide who will make decisions for you for your health or finances if you are unable to do so, you need powers of attorney. If you want avoid the probate process, you may need a trust or a transfer on death deed.

Wills

A will is a document that you create during your lifetime that determines to whom and in what amounts your assets will be distributed upon your death. Your will also determines who will be in charge of making those distributions (the executor). It is not a “one size fits all” document and counsel from an experienced attorney can assist you in choosing the right document for you.

Trusts

A trust determines who will receive your assets after you pass away. The difference with a trust is that you have the ability to give directions about what happens well into the future, not just at the time you pass away. Trusts are also used to avoid the need for probate through the courts, or to handle complex situations were there may be blended families or business interests to consider.

Powers of Attorney

There are two types of powers of attorney – healthcare and property. A healthcare power of attorney appoints someone to make medical decisions for you in the event you are unable to make them yourself. The property power of attorney appoints someone to make financial decisions for you if you are unable to do so.

Transfer on a death Deed

This type of deed, commonly known as a TODI (transfer on death instrument), allows you to transfer your residential real estate to someone else upon your death. It provides a straightforward way to ensure your home passes directly to your beneficiary without the delays or costs typically associated with probate.

Let’s Discuss Your Concerns

Let’s Discuss Your Concerns