Estate Planning for Your Future and Your Family's Security
Wills, trusts and advanced directives are important tools to safeguard your assets and protect your family’s well being in the future. Most of us don’t like to think about becoming incapacitated or dying. But it is important to plan ahead. For example, if you become incapacitated, who will make financial and medical decisions on your behalf? An advanced directive allows you to decide that now. Who will get your assets and property after your death? The state can decide or you can use wills and trusts to ensure your assets will be distributed according to your wishes after your death.
Why You Need a Will
You have worked to build what you have. Making sure it goes to those you love after your death is important. A will is the legal tool that allows that to happen. In the will, you specify who will receive your property and assets. You also appoint a person, called an executor, who will make sure everything is distributed according to your will.
If you don’t have a will at the time you pass, state law will determine how your estate is divided, which may not align with your wishes. Plus, your loved ones will likely have to go through a lengthy legal process to finalize the distribution of assets and property. This is why it’s so important to prepare now.
Trusts to Avoid Probate
While a will is a tool that allows you to name who will receive your belongings after your death, it may still require time and legal proceedings for your loved ones to finalize the distribution. A trust allows your loved ones to avoid the legal process. With a revocable living trust, you can name a trustee who will receive the property immediately upon your death without having to involve a probate court. This can ease the stress of your grieving loved ones.
A living trust is also beneficial in the case that you become incapacitated. Your trustee can take over the management of your property and assets on your behalf. This spares your loved ones the legal headache of determining who should handle these financial matters on your behalf.
Advance Directives for Your Protection and Theirs
powers of attorney and health surrogates are examples of advanced directives. These are additional tools that will help you and your loved ones in the case that you become unable to make medical or financial decisions. Examples of this tool are. These legal documents provide peace of mind for both you and your family, who may not be prepared to make such decisions without your input.
Estate Planning Help
Planning for both the inevitable and uncertainties of life are important, but can be overwhelming. We understand. Let us help you create a plan that is right for both you and your loved ones.