Types of Estate Planning Documents We Routinely Prepare:
Documents we routinely prepare include Durable Power of Attorney, Healthcare Directive, Will, Revocable Trust, Special Needs Trust, Miller Trust, Trust Amendment, Amended and Restated Trust, Bill of Sale, Assignment of Business Interest, Certificate of Trust and Delaware Deeds.
Who Needs Estate Planning?
Estate planning is essential for everyone over the age of 18 to appoint trusted individuals who can make decisions on their behalf in the event of incapacity or death. Without such planning, an unexpected incident, illness in old age, or death could lead to a long and expensive court process, potentially disputable by relatives (known as guardianship or probate, respectively). The court would then have to appoint an agent, possibly an unfamiliar third party, to make decisions for you while living or manage your estate according to state intestacy laws in the absence of prior arrangements. This planning can be achieved through straightforward and affordable documents like a Durable Power of Attorney, Healthcare Directive, and Last Will and Testament.
We are knowledgeable and equipped to support families in planning for relatives with special needs through the establishment of Special Needs Trusts, ABLE accounts, Miller Trusts for Medicaid eligibility, and other accessible resources.
We also ensure clients are aware that revocable trusts can serve as an alternative to wills, offering more sophisticated planning for various reasons:
– Asset protection for their loved ones, particularly when the client wishes to shield a beneficiary from creditors, debtors, or spouses in the event of a divorce;
– Retention of control over assets posthumously, which includes providing for a beneficiary for life and deciding the final recipients of the assets, especially when beneficiaries are minors or have a history of spending, gambling, or substance abuse issues;
– Avoidance of multi-state probate, useful for clients owning real property in more than one state or in multiple counties within a single state;
– Probate avoidance to reduce probate fees and to streamline the management of their estate, making the process more efficient and less burdensome for their loved ones.
Contact us to schedule a complimentary consultation to learn more.