Estate Planning and Probate While you are living and healthy you value being able to make your own decisions about your finances, property, health care, and raising your children. Should you become incapacitated or die you hope others will handle these matters for you according to your wishes. The only way to assure that will happen is through estate planning. This process involves weighing various personal and financial decisions and creating legal arrangements to carry out those decisions. Estate planning is essential for all individuals to limit estate taxes and to ensure that your wishes are carried out after your death. A key component to estate planning is having a Will, which is sometimes called a “Last Will and Testament”. The Last Will and Testament is used to transfer property you hold in your name to the person(s) and/or organization(s) you want to have it and specifies the Executor(s) and the nominated Guardians should you pass away leaving minor children. A Will only becomes effective upon your death and after it is admitted to probate. Other tools that are helpful in estate planning to reduce estate-tax liability include trusts, insurance policies, joint and survivor deeds, transfer on death deeds, and joint ownership of accounts. Our office can also prepare Power of Attorney documents to assist you in the handling of your affairs in the event you are unable or unwilling to handle the matters on your own. The Power of Attorney documents include Financial Power of Attorney, Real Estate Power of Attorney, Living Will, and Durable Power of Attorney for Health Care. Please contact our office at 419-502-2002 to schedule an estate planning appointment to ensure that your wishes are carried out, and your family is properly protected, in the event of your incapacity or death.
Posted on: Fri, 28 Jun 2013 02:44:34 +0000
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