Estate Planning

FamilyEstate Planning needs differ with age and circumstances.  A single couple may have few concerns, but wish to memorialize wishes for loved ones.

A young couple may want to provide for a contingent children’s trust with guardians in place to protect their minor children in the event of catastrophe.

No estate? We can connect you with capable life insurance providers, and investment advisors that will show you ways to create and grow wealth.

For couples who may have grown children, be retired or in second marriages, with a blend of offspring, we can tailor specific plans to accomplish any goal.

We can also assist with Medicaid and Special Needs Trusts.

Basic estate planning starts with a Durable Power of Attorney – this document gives another person, perhaps a spouse or sibling the power to make legal decisions should you be out of town, in the hospital, or otherwise unable to carry on routine matters like paying bills, running a business, settling an insurance or legal claim.

Next is a Health Care Proxy.  This document gives another person the power to make health care decisions when you are not in a position to make those decisions.  This could include cosent for elective surgery when you are not conscious or otherwise unable to decide for yourself.  It could include end of life – or life prolonging decisions that most all of will face at some point.  It sets a framework for decision making and enables you to speak and record your choices as guidance for loved ones in the future.

A Will enables you to record your decisions as to who will be in charge of distributing your estate, winding up your accounts, paying your bills, and who will receive whatever is left when you die.   If you do not make a will, the state makes one for you, and the state ‘default’ estate distribution may not be what you want, and will always cause more expense of administration.

Trusts can be established for a variety of purposes.   A young family should have a ‘Children’s Trust’ to provide for the care of minor children.   An older couple may wish to fund a Trust during their lifetime to ensure a smooth transition as they age, so that a ‘Trustee’ can take over the payment of their bills, and management of their legal matters when they are not longer able to, or wish to be relieved of the day to day burdens.