Last Will & Testament: Are your affairs in order?
It may be difficult to think about what will happen to your finances and possessions after you are gone. You may think you have plenty of time to prepare your Will, but the reality is that none of us know how much time we have. Ease the burden on your loved ones by creating your Last Will and Testament. In your Will you designate an executor of your estate and allocate your funds and possessions.
Most people do not know what to expect from the estate planning or probate process. It can be confusing without the help of a professional. For all legal matters to be in order it is important to have your Will drafted and approved by an attorney. An estate planning attorney can help you through this process and find solutions tailored to your needs.
An estate planning attorney will help you determine the most effective strategy for setting up the orderly distribution of assets upon death, and will draft all the documents necessary to put your estate plan in place. This includes wills, trusts (including special needs trusts, life insurance trusts, trusts for tax planning, dynasty trusts, revocable and irrevocable trusts, etc.), powers of attorney, and advance healthcare directives. A trust is another way to designate beneficiaries of certain funds. The trust process makes it possible for beneficiaries to receive funds sooner and minimizes state taxes. Trusts sometimes include certain terms and conditions that dictate how the funds are dispersed.