Our Estate Plan package generally includes a Will, a Trust, a Power of Attorney and an Advanced Healthcare Directive. We also draft and execute necessary corollary documents.
A Will is an instrument by which a person records their desires regarding distribution of property and their specific wishes after death. Two major disadvantages of relying on a Will alone to manage your Estate Planning goals include:
A Will is not effective in the event you become incapacitated;
A Will subjects your loved ones to a lengthy, public and expensive probate process.
A Trust is a legal relationship between its creator (“settlor”), its manager (“trustee”) and its beneficiaries. A Trust can be drafted to achieve any legal purpose during the settlor’s life and will determine the management of your estate in the event you become incapacitated or pass away.
Durable Powers of Attorney allow you to nominate the person of your choice to make decisions regarding your finances and healthcare decisions in the event you become incapacitated.
An Advanced Healthcare Directive allows you to make specific decisions regarding your end of life wishes in order to eliminate the “Terri Schiavo” problems of today’s medicine.
