Wills and probate
Who will get your assets when you pass away? Who will make your medical and financial decisions if you become incapacitated? What will happen if you are in a vegetative state? You can decide the answers to these questions…but you have to do it before the event occurs.
Common Estate Documents:
Will – A will is the most well known estate document. With a will, you can leave your belongings to whomever you wish, make provisions for your children, and even set up a trust – or trusts – to have some say in what happens to your assets for years after you pass away.
Directive to Physicians – This is commonly referred to as a ‘Living Will”. With this document, you let your family and physicians know what you want them to do if you are in a vegetative state with no chance of recovery. Without this document, you leave it to the government and/or your family to decide.
Medical Power of Attorney – This document appoints an agent to make medical decisions for you. Quite often it will only come into effect if and when you become incapacitated and can not make medical decisions for yourself. Also, you can leave instructions on what your agent should do in certain situations.
Durable Power of Attorney – This document
appoints an agent to handle your financial decisions for
you should you become incapacitated and unable to make
your own financial decisions. Once again,you can leave
instructions for the agent and limit the agent’s powers.
Disposition of Remains
– This will let your loved ones know what you want done
with your remains once you pass away and appoints an
agent to see that it is done.
Passing away without a
will can lead to undesired results. If you don't leave a
will, the government and the courts determine how your
belongings are distributed. Whether you need a simple
will, Power of Attorney, or Living Will, contact my
office to set up an appointment.
Probate
Probate is
never a fun process, but the time, costs, and energy
required can vary dramatically depending on the type and
size of the estate. Whether a person passes away with or
without a will can also affect the process. Contrary to
popular belief, dieing without a will will not prevent
the heirs from having to go through the courts to settle
the estate.