Estate Planning
When You End your LEGACY Begins
Estate Planning
Starter Guide
Our Approach To Estate Planning
When You End your LEGACY Begins. A Life Well Lived – is a Life Well Planned. Planning your estate refers to how you will manage your Estate while you are alive, as well as, how your estate will be handled when you pass. No matter how large or how small, everyone has an estate. Whether you have a Will-based plan or a Trust-based plan, it is essential to also have Durable Power of Attorney over Finances, a Healthcare Power of Attorney and Advanced Medical Directives (Living Will).
Last Will and Testament
A last will and testament is a legal “wish” document that communicates a person’s final wishes pertaining to possessions and dependents. It is not a contract and can be modified based on the findings of the probate court. This can occur if someone questions anything concerning the will. A probate court judge makes the final determination based on the findings of the court proceedings.
A Revocable Living Trust
This document is a legal contract which enables the grantor (often referred to as the trustee, which can be a single
individual or a married couple) to decide how the estate will be settled, to whom, how the proceeds are to be distributed, and when. A Revocable Living Trust is considered a “must have” document.
Durable Power of Attorney over Finances
The term Durable Power of Attorney over Finances is a legal document that allows another person to transact personal financial
business on your behalf. Not having a properly written document could mean that your family may be forced to petition a court to be
appointed as your legal guardian or conservator in order to gain the powers they need to care for you. This is considered a “must have” document.
Durable Power of Attorney over Healthcare
This legal document enables you to appoint someone you trust as your healthcare agent. Not having this document can place a heavy burden on your loved ones since they may be forced to make tough decisions about your care at a time when they are already emotionally drained. Not only that, but family members may also disagree as to what to do, putting unnecessary strain on your family relationships. This is considered a “must have” document.
Advanced Medical Directives (Living Will)
Your advanced medical directive allows you to spell out your decisions about how you want to be cared for in a life-threatening situation. Making these decisions now when you are in control is far more preferable versus when it is too late. This is considered a “must have” document.
*This is a website providing information. It is neither legal advice nor is it intended as an advertisement for legal services. I am not your lawyer and you are not my client. There is no attorney-client relationship.
