Estate Planning

Revocable/Irrevocable Trust
A Revocable/Irrevocable Trust may be in your best interests due to your asset protection and/or distribution of your estate.

Last Will and Testament
A Last Will and Testament is a legally binding document that can designate the distribution of your assets. Wills can be used to pass down property and financial assets to your family, friends or charities. A will can also stipulate who will become the legal guardian of your children or pets in the event of an untimely death. As an adult, it is imperative that a Will be crafted to memorialize your wishes in the event of death.

Aside from designating how your assets will be distributed, a Will can also be used to name an executor to take control of your estate, name a property manager to take care of your children’s property, provide a caretaker for your pet, and provide a backup for your living trust. While it is a good idea for most people to make up a Will, some may not actually need one. If you have no children or agree with (and completely understand) how the state will distribute your property in the event of your death, you may not want a Will. However, if you are unsure about any of the stipulations of a Will, or what it can do for you, give us a call! We would be happy to explain everything involved with a Will to you, so you can decide if it is the best option to fit your needs.

In some cases, a Will may not be enough. It may be necessary to have other documents to protect yourself in the event of an illness/incapacitation. In these cases, Power of Attorney and Healthcare Proxy/Health Surrogate/Living Will documents are just as important as a Will.

Power of Attorney
Power of Attorney gives another person the authority to act on your behalf in certain legal and financial matters. The principal determines the amount of power given to the attorney-in-fact. The power given to the attorney can range from very specific powers meant to deal with one particular issue or can be very broad powers over health care, financial matters and other legal issues.

Healthcare Proxy/Health Surrogate/Living Will
A Healthcare Proxy/Health Surrogate/Living Will allows you to appoint another person or family member to make health care decisions on your behalf if you are unable to make your own healthcare decisions due to incapacitation. This can help your loved ones avoid a difficult situation in the event that you become unable to care for yourself.

Completing your estate planning is not simply throwing together a series of documents. It means meeting with a trained professional to discuss tax planning, support obligations, guardianship, establishing trusts, and the long-term planning involved in how you want your property distributed. What’s more, there are several important documents that your estate lawyer will be able to explain to you, including your Will, Power of Attorney, Healthcare Proxy, and more.

Many people searching for estate planning information may ask whether they can use online forms to prepare their own Will and estate documents. While these documents are available, they may not contain information or requirements specific to State law. By preparing your estate documents without an attorney you may lose valuable planning advice, tax information, and more that you otherwise might not have known.

Call Fuhrman Law today for your experienced consultation!