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An estate plan is decided on through decisions made regarding the disposition of property, arrangements should you become incapacitated and the choice of fiduciaries you're wanting to handle affairs on your behalf if you are unable to do so.

Your Estate Plan is implemented by a set of legal documents that outline how you want your assets to be distributed after you pass away. This includes things like your money, property, investments, and any personal belongings. But it's not just about who gets what – an estate plan also includes important decisions about who will make medical and financial decisions for you if you become unable to do so yourself.

Having an estate plan in place is crucial for a few reasons. First and foremost, it ensures that your wishes are carried out after you're gone. Without a plan in place, your assets could end up in the hands of people you wouldn't have chosen. It also helps to minimize confusion and potential conflicts among your loved ones during an already difficult time. And long-term care/ medicaid planning can be included.

Remember, estate planning is not just for the wealthy or the elderly – it's something that everyone should consider, regardless of age or income level. It's never too early to start thinking about the future and taking steps to protect your loved ones.

A Will allows you to appoint a personal representative who will be responsible for carrying out the instructions in your will. This person will ensure that your debts are paid, your assets are distributed according to your wishes, and that any other final arrangements are taken care of. Without a will, which is referred to as intestacy the distribution of your estate will be determined by state laws, which may not align with your wishes.

In addition to distributing assets, a Will can also address other important matters, such as guardianship of minor children and dispositions of tangible personal property.

It's important to review and update your Will regularly, especially after major life events such as marriage, divorce, or the birth of a child.

A Trust is a legal arrangement in which one person, known as the Trustee, holds property or assets for the benefit of another person, known as the Beneficiary. Trusts ensure that assets are managed and distributed according to the wishes of the Trustor, the person who creates the Trust. Creating a Trust can help you avoid probate, minimize estate taxes, and protect your assets from creditors and lawsuits.

There are many different types of Trusts, each with its own unique features and benefits. Some common types of Trusts include Revocable Trusts, Irrevocable Trusts, and Special Needs Trusts. Revocable Living Trusts allow the Trustor to make changes to the Trust during their lifetime, while irrevocable Trusts cannot be changed once they are established. Special Needs Trusts are designed to provide financial support for individuals with disabilities without jeopardizing their eligibility for government benefits.

During probate, a court oversees the administration of the deceased person's estate to ensure that everything is handled properly and in accordance with the law. This includes admitting the Will to probate, appointing a personal representative to manage the estate, identifying and inventorying the deceased person's assets, paying off any debts or taxes owed by the estate, and distributing the remaining assets to the beneficiaries.

Probate can be a lengthy and complex process, depending on the size and complexity of the estate, as well as any disputes that may arise among the beneficiaries. The cost ranges from $2,500 to $5,000 for an uncontested probate.

While having a legal Will in place is a necessary first step, it may not be sufficient to fully protect your interests and wishes. There are several additional documents and strategies that can provide you with comprehensive protection. One important document to consider is a Durable Power of Attorney, which allows you to appoint someone to make financial and legal decisions on your behalf if you become incapacitated. This can be crucial in ensuring that your affairs are managed according to your wishes in the event that you are unable to do so yourself.

Another important document to consider is a Healthcare Directive, also known as a Living Will. This document allows you to outline your preferences for medical treatment and end-of-life care, ensuring that your wishes are known and respected by healthcare providers and loved ones.

In addition to these documents, you may also want to consider setting up a Trust to manage and distribute your assets according to your wishes. A Trust can provide additional privacy and control over how your assets are distributed, and can also help to minimize estate taxes and avoid probate.

The estate planning process typically takes from 6-8 weeks depending on the complexity of your estate and the level of detail you wish to include in your plan. Then we’ll support you to maintain your plan over time so it WORKS when your family needs it.

How much will it cost?

Frequently Asked Questions

A last Will, Health Care Directives and Powers of Attorney so you know that you are well taken care of if anything happens plus a guardianship plan to ensure your children are always raised by the people you want, in the way you want and never taken out of your home by the authorities. This plan ranges from $2,000-$4,000.
All benefits of the Will plan plus peace of mind knowing we will guide you during life and care for your family later. You keep your loved ones out of court, keep your affairs totally private, and ensure your family can turn to us when needed. We handle key asset transfers to your Trust, and all other asset transfers will be handled by you with unlimited guidance and support from us. This plan ranges from $4,000-$6,000.
All benefits of the trust plan plus we analyze how each of your assets is titled and handle all assets is titled and handle all asset transfers for you to guarantee your plan works for your family. We prepare your asset inventory and complete all bank, brokerage, insurance, and retirement documents to transfer title and change beneficiaries. This plan ranges from $6,000-$8,000.

Can I attempt my own estate planning?

Attempting to handle your own estate planning can lead to costly mistakes and oversights that could have serious consequences for you and your loved ones in the future.

Estate planning is a complex and highly specialized area of law that requires a deep understanding of legal principles, tax laws, and financial planning. Without the proper knowledge and experience, it is easy to overlook important details or make decisions that are not in your best interests.

A professional will ensure that your plan complies with current laws and regulations. The legal landscape is constantly changing, and what may have been a valid estate planning strategy in the past may no longer be effective or even legal today. A professional estate planner stays up- to date on these changes and navigates the complexities of the legal system.

This is not a one-size-fits-all process. Your unique circumstances, family dynamics, and financial situation all play a significant role in determining the best approach for your plan. A professional can tailor a plan that meets your specific needs and goals, ensuring that your assets are protected and distributed according to your wishes.

By making the decision to work with a professional, you will be assured that your wishes are carried out, your assets are protected, and your loved ones are provided for in the way you intended.