Estate Planning

Did you know that 65% of people in this country pass away with not so much as even a will in place? Having an estate plan in place is not just for the rich and famous, it is an important device that every person should have.

Estate Planning can be as simple or as complex as a person needs. It can range from a basic will to complex asset protection including trusts. If a person does not possess a will, their assets will be divided by intestacy, or in other words by statute, which means the state will ultimately decide how assets are distributed. Consulting with an experienced attorney can help you understand your options and the benefits of a custom estate plan.

Wills
A will is a legal document that prescribes how a person’s estate will be divided. A will is necessary part of estate planning for just about every person regardless of their current situation in life.

 

For parents, a will is a key tool to appoint a guardian to make sure your children are properly looked after. For those with assets, however large or small, a will can make sure your assets will be given to those you wish them to.

 

Revocable Trusts
A revocable trust is a legal entity which essentially allows you to maintain control of your assets with additional protection. Most importantly for many clients, a trust can allow for a person’s assets to avoid probate, which is the legal process for the state to confirm a will potentially saving time and money.

 

Durable Power of Attorney
When a person is incapacitated, or has passed, they still have normal financial obligations to perform. A Durable Power of Attorney designates a person to help carry out their needs and is a crucial piece of any estate plan.

 

Health Care Proxies
A Health Care Proxy designates a person or persons to speak for an individual with regards to health care decisions.

Affordable Law Group is available to help you with your estate planning needs. Contact us now for a free 30 minute consultation. 

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