Wills & Trusts
An individually crafted estate plan can provide you and your family members with peace of mind, emotional ease, and an effective method for getting your legal affairs in order. An estate plan ensures that your assets are distributed according to your wishes.
We understand that estate planning needs vary from client to client. Our attorneys provide personalized attention to each and every client based on their unique situation and goals. We take a hands-on approach to help clients understand every step they take and every option they have along the way. Estate planning options include the following:
The common manner of passing on assets. Without a will, the state determines who will get your assets based on its "cookie-cutter," "one-size-fits-all" intestacy law. This oftentimes leads to an undesirable result that the decedent did not envision during his or her lifetime.
Our firm can establish trusts that include revocable trusts, irrevocable trusts, special or supplemental needs trusts, and insurance trusts. Trusts aren't just for the really wealthy—they can bring advantages to an estate plan for a wide range of people.
A financial (or property) power of attorney allows you to designate a trusted person to make decisions on your behalf with respect to the management and disposition of your property and assets. A health care power of attorney designates a trusted person to make health care decisions on your behalf if you become incapacitated.
An advance directive (a.k.a. "living will") can ensure the end-of-life decisions that are made on your behalf in the event of your incapacitation are the decisions you wanted. Your family members can be spared the difficulty of making this decision without your instructions or guidance.
Without a will, the state determines who will get your assets based on its "cookie-cutter," "one-size-fits-all" intestacy law. This oftentimes leads to an undesirable result that the decedent did not envision during his or her lifetime.
Trusts aren't just for the really wealthy—they can bring advantages to an estate plan for a wide range of people. Our firm can establish revocable trusts, irrevocable trusts, special or supplemental needs trusts, and insurance trusts. Gerry Woods has an LL.M. in tax, a distinction that is particularly useful in tax planning to minimize or eliminate federal estate taxes.
A financial power of attorney allows you to designate a trusted person to make decisions on your behalf with respect to the management and disposition of your property and assets. A health care power of attorney designates a trusted person to make health care decisions on your behalf if you become incapacitated. Without both documents, your family might have no choice but to seek a court-appointed guardianship, an oftentimes expensive and time-consuming process.
An advance directive (a.k.a. "living will") can ensure the end-of-life decisions that are made on your behalf in the event you become incapacitated and unable to communicate your wishes.vent of your incapacitation are the decisions you wanted. Your family members can be spared the difficulty of making this decision without your instructions or guidance if you have an end-stage condition with no realistic hope of recovery.
Without a financial power of attorney prepared by an experienced elder law attorney you may not be able to take advantage of Medicaid planning to protect your assets by avoiding a nursing home spend-down. This is an especially important estate planning tool if you ever become incapacitated.
Our attorneys are happy to answer your estate planning questions.
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