When most people think of “Estate Planning” they think of a Will - they want to put together a plan for what will happen to their assets after they die. In reality, in addition to managing your affairs at the time of your death, a good estate plan will also address many of the needs you face while living, such as:
- Designating a person to make medical decisions for you in the event that you cannot do so
- Naming a guardian for minor children or disabled persons
- Ensuring that someone you know and trust can manage your affairs if you become disabled
- Protecting your assets from being lost to unnecessary taxes, nursing home expenses and probate fees
Many people are uncomfortable about having to think about who will receive their assets when they are gone, or who will manage their affairs if they become disabled, and so many people procrastinate when it comes to estate planning. The thing to keep in mind is that if you don’t make these decisions then someone else (probably the probate court) will make them for you – and you may not be happy with the outcome.
Estate planning is a major part of my practice. I have many years experience in drafting Wills, Trusts, Advance Medical Directives and Powers of Attorney. Additionally, I can help you plan to reduce estate taxes and probate expenses.
If you have questions about the estate planning process or want to talk to someone about your situation, please give me a call and we can set up a time to talk.