Wills / Trusts

Are you looking for ways to further increase the protection or assets and make sure your heirs are covered for not only future finances but also with funeral costs? We will help get you prepared for anything by coming up with a plan on what type of will or trust you would like to leave for your heirs and make sure all ends are tied in a time where things can often seem uncertain.

Wills

If you pass away without a Will, each state has its own laws regarding the disposition of your Estate. Those laws may state that your Estate passes all to your spouse, or children, or parents, or siblings, or cousins. If a decedent passes away with absolutely no living blood-relations, than his or her Estate may pass to the State in which the decedent lived at the time of death.

Trusts

A Trust is a written document executed during your life which is intended to dispose of your personal property and real property during your life or upon your death. With either type of Trust, you will generally be required to change the title of all of your real and personal property from your name to the name of the Trust. If you set up a “Revocable Trust” you have the right to change your mind and remove the assets from the Trust back into your name. If you set up a “Irrevocable Trust” you cannot change your mind and remove the assets from the Trust back into your name. There are many reasons for setting up either type of Trust, including, tax savings, avoidance of probate of your Will in Court upon your death, and creating a long term estate plan for the passing of your legacy to children, grandchildren, great-grandchildren, and beyond.

Power of Attorney

A General Power of Attorney is a written document wherein you appoint an “Attorney in Fact” to address business and personal decisions in the event that you are unable to. A General Power of Attorney can include the ability to buy and sell property, access safety deposit boxes, pay bills, file tax returns, bring a lawsuit, employ professionals, and vote corporate stock. A General Power of Attorney can be effective immediately upon signing or upon written certification from a physician that you are disabled and unable to make such decisions. A General Power of Attorney is only valid during your life and is immediately revoked upon your death; therefore, an Attorney-in-Fact cannot use the Power of Attorney to make after-death decisions.