Estate Planning
Appropriate estate planning documents ensure that your loved ones will be provided for in the event of your disability or death. A Complete Estate Plan includes:
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- Last Will & Testament - A Will is a written document which, after the individual's death, directs the distribution of his/her individually owned property, designates who will be in charge of the property until it is distributed, and directs who will take care of the individual's minor children if they do not have another parent.
- Durable Power of Attorney - is a contract in whihc the principal grants another person the power to act on his/her behalf regarding financial matters. A Durable Power of Attorney remains in effect even if the Principal becomes disabled.
- Health Care Proxy - One may designate another to make health care decisions on his or her behalf, if he or she should become incompetent and/or unable to communicate those preferences.
- Advance Directive or Living Will - is a statement of the medical treatement an individual wishes to receive, or does not wish to receive, if he or she would have a terminal or irreversible illness and become incompetent and/or unable to communicate those preferences.
Guardianship - When a Durable Power of Attorney, Living Trust or Health Care Proxy is not in effect, a court-supervised guardianship is necessary.
Special Needs Trust - enables a disabled person to retain public benefits, including SSI and Medicaid, and also benefit from an inheritance or personal injury compensation.
Estate Administration and Probate - Saves time and money for personal representatives by ensuring that they have performed their required duties.
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