WHAT IS AN ESTATE PLAN AND WHY DOES EVERY ADULT NEED ONE?
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Estate planning is the proactive process of planning for life events - both the unexpected (such as getting hit by a bus) and the inevitable (death). A complete estate plan addresses incapacity during life and what happens after death. The elements in a foundational estate plan are a will, revocable living trust, financial powers of attorney, health-related documents, and nominations of guardians for minor children. Estate planning ensures that your assets are distributed according to your wishes during your lifetime and beyond. It allows you to specify how you want your healthcare and finances managed if you become incapacitated. It allows you to specify who will care for your children any time when if you are not available to provide care for them. Estate planning ensures that your spouse, children loved ones are provided for after your death. Estate planning can help you avoid guardianship, conservatorship, and probate. Additionally, it allows you to fulfill charitable intentions and pass your values and ideals on to future generations. By working closely with our experienced estate planning attorney, you can craft an estate plan, including wills, trusts, powers of attorney, health care directives, and beneficiary designations, that align with your goals and your legacy.
WHAT IS A WILL?
Will: noun, "A legal declaration of a person's wishes regarding the disposal of his or her property or estate after death." Merriam Webster
A Last Will and Testament is the classic estate planning document. A will is a powerful tool that allows you to decide who gets what after your death. It allows you to nominate guardians for your minor children. It can make your intentions clear and relieve your family of the burden of making difficult decisions for you without your express input. It promotes peace by bringing clarity during a time of grief. Did your sister in California tell you not to use a will? Did she say you have to make sure to use a revocable living trust, or you will regret it? Call us and ask about that. She may be right; or she may not be. Is a will the only estate planning document you need? Probably not. Call us and ask about that. Family circumstances can change without warning. Through it all, you can set your family up for peace by planning ahead. At Wysocki Law, we make estate planning easy. We will guide you and answer your questions every step of the way. We can help you design and execute your estate plan without ever leaving your home. Do not procrastinate - let us help you plan!
WHAT IS A TRUST?
Trust: noun, "A trust is a legal instrument used in estate planning to manage and distribute assets and property." Merriam Webster
