A comprehensive Estate Plan will include some or all of the following documents:
- Will. A Will is a vital part of an estate plan. It provides instructions for how real and personal property should be distributed upon death. Further, it names a personal representative and can provide direction as to the appointment of a guardian for minor children. It can be updated if circumstances of your situation changes.
- Living Trust. A living trust or revocable trust takes specific ownership of some or all of your assets and can sometimes be used to avoid probate and can have certain tax benefits.
- Power of Attorney. A Power of Attorney allows you to appoint someone to handle your property and finances if you become unable to do so.
- Advanced Healthcare Directive. An Advanced Healthcare Directive or Living Willkeeps you in charge of what happens in the event you are unable to communicate or are deemed incapacitated. This also provides comfort and direction to your family. For example, you may have told your spouse that you would never want to live unable to care for yourself after a head injury or serious stroke, but your parents or children may have conflicting views emotionally or religiously. With a Living Will, you make it clear to all including your doctor whether or not you want heroic measures keeping you alive.
- Community Property Agreement. This type of agreement can be helpful to married people as it provides that if one spouse dies, the property will pass to the surviving spouse without going through probate.
Some questions to ask yourself:
- Who do I want to make medical decisions for me when I no longer can?
- What kind of medical treatments do I want, or not want?
- What do I want my loved ones to know?
Drafting a will can become complex and intimidating. We are dedicated to making the process as simple as possible.
The Law Office of Mark McClure will listen to your concerns and desires, and create a document that clearly spells out your wishes.