Every individual has an estate, no matter how rich or poor you are. This estate can be protected while you are living and after death, however the only way to do so is through proper Estate Planning. From simple wills and trusts to powers of attorneys and healthcare directives, I will provide the same advice and counsel to clients that I would offer to a friend or family member.
You don’t need to have a large family or extensive assets to benefit from the security that an estate plan can provide. A last will and testament is the most basic estate planning tool. Within certain legal limits, it directs the transfer of your assets according to your intentions, and it can also express your wishes about raising your children, burial, memorial services or other arrangements after you’re gone. The certainty of having a will in place can go far to avoid confusion and disputes over who gets what within a family. If you have a will but you haven’t reviewed it in several years, it’s probably a good idea to go over it and if necessary, update it to ensure that it meets current personal and family needs.
Not all of your assets will transfer by will upon death. Joint bank accounts, certain retirement benefits, insurance policies and certain forms of real estate ownership will create survivorship rights for a co- owner or beneficiary, most frequently your spouse. There might be some question as well about the proper title to business assets. I can review your situation and provide you guidance about what property will be included in your estate and what won’t be.