Basic Wills leave your entire estate to one or more persons and do not include provisions for minor children or trust creations. This does not include financial or medical power of attorneys. Financial and medical powers of attorney allow the person(s) you name to manage your financial affairs and make medical decisions for you in the event of incapacity.
The Basic Will Package includes the Basic Will plus Healthcare Representative, Financial Power of Attorney, and HIPAA Waiver.
The Family Will Plan is for families with minor children as well as for parents who wish to leave assets to their adult children in trust until they reach specified ages or other milestones.
The Healthcare Representative designates who will make health care decisions for you if you no longer have the capacity to do so yourself.
The General Durable Power of Attorney designates who will make financial decisions for you if you no longer have the capacity to do so yourself.
This is a probate avoidance plan. Most families do not need a revocable trust plan, despite the many advisors that promote such plans. However, this can be an excellent choice for some people. Those who benefit from this include disabled individuals or those with multi-state property. I will explain the pros and cons to help you make the right decision.
This Plan is for married couples with assets over either the state or federal estate tax exemption limits. It avoids probate and allows the minimization of estate taxes due after the death of both spouses, and/or the deferment of estate taxes. For families with large assets, this plan can save hundreds of thousands of dollars for your heirs.
The HIPAA Authorization designates individuals who can see your medical records when you are unable to otherwise give consent because of injury or illness.
An Irrevocable Life Insurance Trust owns and controls permanent or term life insurance.
A living will, or Advance Directive, is a legal document that outlines your end-of-life wishes, such as whether you want life-sustaining treatment or not. It can also include instructions about organ donation, funeral arrangements, and other important matters.
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