Estate Planning
Estate planning is the best tool for dealing with the legal issues people face as they age. Having the right plans and documents in place ahead of time simplifies or prevents much of the problems that can occur.
The most common estate documents are:
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Will - a written device to choose where your belongings go to after you die and to choose the person responsible for managing your estate.
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Durable powers of attorney - a document that allows someone to manage your affairs in your place, were you to become incapacitated.
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Advance health care directive to physicians - a document that states your important medical decisions, such as refusing life support, feeding tubes, or prolonging your life when no quality of life remains. Were you to be incapacitated and unable to state your wishes this document will inform your doctor on what to do.
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Revocable living trust - a document that creates a trust to possess your belongings during your lifetime. At your death it will become irrevocable and provide a clear set of instructions on what to do with your belongings. If created properly, the trust can avoid the need for probate if distributed, or can be converted to a trust with a new purpose.
Different types of trusts can be used for more complicated matters such as:
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providing for special needs children
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providing a steady income for a spouse and/or children throughout their lives
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setting up an education fund for children or grandchildren entering college
As part of planning, I will analyze your needs and preferences, present the different estate planning tools available, and work with you to create a plan tailored to your particular situation, budget, and wishes.