We’re here to guide you through estate planning.
Estate planning is the preparation of legal documents that serve to provide guidance on the management of an individual’s assets or health care needs in the event of incapacity and to direct the disposition of an individual’s assets upon death.
Individuals often fail to plan. Excuses range from the belief that planning is not needed because the individual will never become incapacitated or require the assistance of others or the fear of simply talking about death.
Estate planning helps an individual maintain autonomy upon incapacity, takes the pressure and undue burdens off of an individual’s family, may limit family disagreements, may limit the need for court interventions like guardianships, could save money, and limit the potential for exploitation or abuse.
Estate planning documents include, but are not limited to, the following:
- Durable Powers of Attorney
- Health Care Powers of Attorney
- Advance Directives Regarding a Natural Death (Living Wills)
- Last Will and Testaments
- Revocable Trusts (Living Trusts)
- Special Needs Trusts (Supplemental Needs Trusts)
- Irrevocable Life Insurance Trusts
Estate planning should be an ongoing process that adjusts as your life changes. The attorneys at Craige & Fox, PLLC can help you not only draft your original documents but maintain and update any legal documents you have previously created. Personal finances, families, and estate planning laws may change over time and your plans should adjust with those changes.