What does it Cost? Click here for worksheet.
Intestacy: In the absence of a Will or Trust an individual’s assets are divided according to the intestacy statutes. These statutes do not take into account the decedent’s wishes or special family needs. For instance, one inheriting through according to intestacy statutes becomes entitled to all of their inheritance at adulthood. Also an estranged child would share equally with a family member who provided care and services. The estate must be administered through probate court which usually takes a 9 months to conclude. It is a public, costly, slow and frustrating process.
Wills: A Will may alter the result under the intestacy statute. For instance, an estranged child may be disinherited. Distributions of the estate are not required to be equal. A standard Will does not prevent an heir from receiving their inheritance at the age of eighteen. A Will does not avoid probate court. Last Will and Testament
People often overlook the possibility of their becoming unable to manage their own affairs or medical treatment. Accidents, strokes, illness and dementia can render one unable to function. An Estate Plan should also provide for these situations.
Advanced Medical Directive: Sometimes called a “Living Will”. It instructs healthcare providers with the level of care you want to receive in the event that you cannot communicate. Most people chose from three standard options depending upon their medical situation. These are 1) do everything; 2) provide feeding and nutrition only; and 3) withdraw medical treatment, feeding and hydration. These are often called end-of-life or death with dignity choices. Do not resuscitate choices can also be made.
Healthcare Proxies: Trusted individual can be appointed to make medical decisions based upon their knowledge of your values. These can be provided in the Advanced Medical Directives but should also be appointed in a Durable Medical Power of Attorney.
Financial Power of Attorney: This empowers a trusted individual to make financial or business decisions if you become incapable of doing so. Acting as attorney-in-fact they can be empowered to pay bills, use bank accounts, trade stocks, etc.
Estate Plans Can Be Custom Designed To Include:
Because everyone’s situation is different a price cannot be quoted. A simple worksheet can be completed to provide you with an initial estimate during a free initial consultation. Please call to get started.
Half way between 2nd and Danforth just off of Boulevard.