Estate planning
About
Estate planning
You need estate planning, you don’t need a cookie cutter plan with a “free” book or handout. You need attorneys who understand your goals and give you the best possible options to achieve those goals. If you don’t have a proper plan in place, the State will create one for you. Do you need a trust or is a will sufficient? If you do need a trust, which type of trust is best for your situation? Do you have minor children or complicated family dynamics? What happens if you get a divorce or your spouse dies? What if your spouse remarries after your death? What happens to your business once you pass away? Are your children or parents located out of state? What happens if you are incapacitated? What happens to your pets if you pass away? Do you have the correct documentation in place to ensure your desires are met? All of these questions, and more, will be addressed with the estate planning attorneys at Short & Stevens Law. Life is short, plan while you can.
Our Approach
Estate planning concepts
Definition:
A legal document that distributes your assets upon your passing and can name guardians for minor children
Pro:
Relatively cheap and can change the intestate succession laws
Con:
Does not avoid probate, is public, and can cause more problems if not prepared and executed correctly (so don’t take a chance and consult one of our skilled attorneys today)
Questions to Consider:
- Who should get my property when I pass away and in what manner?
- Who should care for any minor children when I pass away?
- Who should be in charge of taking my Will through the Court process when I pass away?
Definition:
An agreement that allows a party to hold assets on behalf of beneficiaries
- Family and A/B (majority of trusts – used to avoid probate)
- Asset Protection (used to avoid creditors)
- Special Needs (First and Third Party) (used to protect a beneficiary’s eligibility for needs-based benefits (SSI/Medicaid))
- Charitable Remainder/Lead (used for charitable giving)
- Pet (used to protect pets upon death/disability)
- Gun (used to hold NFA or Title II firearms)
Questions to consider:
- What is the best type of trust for my unique situation?
- Who should be my trustee?
- Who should be my beneficiaries?
- In what manner should my trust be administered?
Pro:
Avoids probate; discreet, typically avoids all court involvement
Con:
More expensive than a standard Will and can be useless if not prepared or used correctly, so be sure to consult one of our attorneys today
Definition:
Legal documents that appoint one or more agents to act on your behalf
Pro:
If prepared correctly, these documents are the easiest and cheapest way to avoid a guardianship or conservatorship and they lessen anxiety in stressful situation
Be sure to consult one of our attorneys today to ensure your directives are clear and legal
Con:
Could never be used
Questions to Consider:
- Who do I want to be my agent?
- What control do I want my agent to have over my assets?
- What directives do I want to give regarding my medical care?
Definition:
A legal document used to nominate a legal guardian for medical and financial needs prior to needing one
Pro:
A safeguard to ensure that you, or a loved one, picks their own guardian and never gets taken advantage of by a for-profit agency
Con:
Could never be used
Questions to Consider:
- Who do I trust to be my guardian?
- Do I want a different person to control my medical needs and my financial needs?
Definition:
A legal document containing instructions regarding your remains and naming a designee for your remains
Pro:
Takes away the uncertainty for those you leave behind and avoids fighting over control of your remains
Con:
If your instructions are not legally stated, they could be invalid, so be sure to consult with one of our experienced lawyers today
Questions to Consider:
- Who do I want to be my designee?
- What do I want to happen to my remains?
- Do I want to be an organ donor?
Words From Our Clients
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Estate Planning (Wills, Trusts, Powers of Attorney, etc.); Trust Administration; Probate; Business Law; and Real Estate Law
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