What is estate planning?

Estate Planning is the process of creating instructions for what should happen to you and your assets during an emergency or after death. Additionally, some methods of estate planning serves as asset protection.

What is an estate?

An estate is comprised of all of one’s assets. These assets include but are not limited to: real estate, possessions, cash, and any asset the individual expresses control over.

Who should estate plan?

Everyone!

What are the benefits of estate planning?

There are numerous reasons why estate planning is beneficial. One reason is that you maintain control you and your assets. You decide who you want to receive what gift or inheritance. Another benefit of estate planning, is being prepared for a medical emergency. There are documents the provide how you want to be handled during moments of incapacitation.

What are typical documents involved in estate planning?

The typical lawyer answer, it depends. The main documents that everyone should have are a Durable Power of Attorney and Designation of Healthcare Surrogate. These documents allow someone of your choosing to act on your behalf in financial transactions and medical decisions, in the event you are unable to. Additional documents that are commonly involved are different versions of wills and trusts.

How long does it take to estate plan?

The first step in estate planning is coming in for a free consultation to discuss your circumstances. From there, we will decide as a team, the best course of action. Once we agree upon the course of action, the documents will be prepared and sent to you for review. After the documents are finalized by the client, the next step is to schedule a signing. The process can take as little as a week to a couple of months depending on the complexity,