Estate Planning
Our most common estate planning documents are listed below with a brief summary of how they may help you.
The estate plans we create with our Clients often include a mix of these documents, though not every document may be suitable for everyone's needs.
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Wills & Trusts
Wills
A Will provides for the disposition of your assets (real estate, financial, and/or tangible) after your passing and appoints your choice of Executor to act as your personal representative for collecting and distributing your assets. A Will only has authority after your passing.
Your Executor can be an individual you trust, or even a corporate fiduciary if you prefer.
Trusts
A Trust is an arrangement which allows property (real estate, financial, and/or tangible assets) to be held for you or for your beneficiaries. Just like with a Will, the Trust will provide instructions for distributing any assets which are owned by the Trust and appoint your choice of personal representative, called a Trustee, to act on your behalf. A Trust is effective during your lifetime and after your passing.
While having a Trust may make the Probate process smoother, quicker, and more economical for your loved ones in your absence, they do require more administration both during your lifetime and after your passing.
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Personal Care Documents: powers of attorney
Financial
A financial power of attorney appoints your agent to act on your behalf including when they may begin to serve, and outlines what decisions they may make and/or actions they can take regarding your financial or business matters.
Medical
A medical power of attorney appoints your agent to act on your behalf regarding your healthcare and medical decisions in the event of your incapacity.
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other Personal care documents
Authorization to Release Medical Information
An Authorization to Release Medical Information allows you to designate any person(s) with whom you wish to allow any healthcare representative to communicate. This may also be called a HIPAA Release.
Statement of Anatomical Gift
A Statement of Anatomical Gift which can allow your remains to be gifted if you wish for scientific or research purpose after your passing.
Directive to Physicians
A Directive to Physicians specifies which life-saving measures or treatments you authorize physicians to take on your behalf in the event of a comatose or terminal condition. This may also be called a Living Will.
Declaration of Guardian
A Declaration of Guardian designates your choice of trusted individuals to manage your estate or person in the event of your incapacity to prevent Court interference. In addition to appointing agents you Trust, you can also disqualify individuals you do not trust from serving as your agent.
Appointment for Disposition of Remains
An Appointment for Disposition of Remains designates your choice of agent to ensure your wishes for your remains after your passing are carried out. You can even write any specific plans or wishes on this document for your agent to review.
Beneficiary Designations
A Designation of Beneficiary specifies your wishes for the distribution of any IRAs, 401Ks, Annuities, or Qualified Plans in the event of your passing. After we prepare these, we recommend that our Clients send them to their plan administrators immediately to ensure they are properly recorded.