A will is a written document that outlines how your assets and property will be distributed upon your death, who will care for your children, and any special instructions you’d like to make about your affairs.
A trust can come in all shapes and sizes. It is a legal entity that owns assets for the benefit of a third person or persons, who is known as the beneficiary. The grantor of the trust is the person who sets up and funds the trust. The trustee is the person charged with the safekeeping and administration of the trust.
If your children are minors, it is important to have a plan in place for their care if you or the other parent are unable to care for them. It’s not an easy thing to consider, but with a simple appointment of a guardian in your will, you can ensure that your kids will be cared for by the individuals you feel are best able to do so.
A living will allows you to express your preferences regarding your medical treatment, should you become unable to communicate your wishes due to illness or permanent unconsciousness. It also allows you to designate a person who can make end-of-life care decisions on your behalf.
These are just a few aspects of the estate planning process. Each situation is unique, and it is important that you receive legal advice to create a personalized plan.
We know it isn’t easy to think about medical and end of life issues. That’s why our attorneys strive to make the entire process as simple and stress-free as possible for you and your family. Our attorneys can help you prepare thorough documents to make sure your wishes are clearly specified and that your property is distributed how you see fit. To learn more, Contact us.