Estate planning is the process of planning and preparing for your incapacity and/or death. A comprehensive estate plan addresses the following issues, as applicable:
- Dictating the kinds of life-prolonging medical care such as tube feeding, that you wish to receive should you be unable to make your wishes known when the time comes.
- Identifying the person(s) you would want to make health care decisions on your behalf in the event you are unable to make those decisions yourself.
- Identifying who you want to manage your finances and/or your person in the event you are incapacitated (which alleviates the expense and publicity of guardianship and/or conservatorship proceedings down the road).
- Facilitating the transition of ownership, management, and activity in business and investing relationships.
- Identifying the family members and other loved ones that you wish to receive property after your death.
- Identifying the persons you would want to take care of your minor children in the event that you pass away.
- Minimizing the amount of taxes that will need to be paid upon your death.
- Creating a plan for charitable gifting, if so desired.
- Setting forth the kind of funeral arrangements you would like and addressing how you would like your remains disposed of.
- Ensuring you assets are properly titled and structured.
- Planning for long term care.
- Addressing default inheritance laws, such as, homestead and property allowances.
Probate is the legal process which occurs subsequent to death. The decedent may have executed documents setting forth his or her wishes or their estate will be distributed according to the laws of the land.
Please contact one of our knowledgeable attorneys to discuss your estate planning or probate matters.