Listening - Understanding - Representing
Basic Estate Planning
Many people do not believe that they need to plan for the disposition of their estate. Certain individuals do not like to think about death, feel they do not have much of an estate, or simply assume their assets will go to their next of kin without any need for an estate plan. With few exceptions, everyone possesses some assets, and without proper estate planning, these assets, whether economic or emotional, can be tied up in probate and cost heirs thousands in legal fees.
Broadly speaking, an estate plan consists of the accumulation, conservation, and distribution of an estate. A well-thought-out plan will avoid the courts’ deciding who gets what, save an enormous amount of time and money, and, most importantly, avoid major family disputes.
Although not a thought most people relish, it is important to advise friends, family, and medical providers as to your wishes regarding your children, finances, and health in the event that you are unable to communicate them when it matters most. With a properly drafted will, an individual can delegate these responsibilities to a trusted person instead of allowing the courts to decide.
The Law Offices of Shaun A. Hannafin can help with many aspects of basic estate planning, such as:
- Living trusts
- Durable power of attorneys
- Health care proxies
- HIPAA releases
- Advance directives
- Homestead declarations