Estate planning is the creation of a definite plan for managing your wealth while you are alive and distributing it after your death. These assets may be owned jointly or separately with others.
• Every family should have an estate plan, one that is designed and implemented by an attorney who focuses on estate planning law and who cares about your financial goals • Without an estate plan, you can put yourself and your loved ones at risk. • If you do not have an estate plan and you become incapacitated, you will not be able to control who will make the financial and health care decisions on your behalf.
Estate Planning Services: Following are the services that comes under estate planning: • Last Will and Testament • Power of Attorney • Living Will • Living Trusts
Last Will and Testament • A Last Will and Testament is an essential legal document to any good estate plan. • After determining that you need an estate plan, your estate planning attorney will recommend either a trust-based estate plan or will-based estate plan.
Power of Attorney A power of attorney is a legal document that authorizes you to appoint someone else, known as agent, to make the legal, financial and business decisions on your behalf.
Living Will A living will is a legal document that provides instructions to loved ones and medical providers about an individual wishes concerning end-of-life medical decisions.
Living Trusts A living trust is a type of trust which you create for distributing assets after your death. Most the living trust is revocable and this means that you can change its terms at any point of time.
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