Estate planning can be an uncomfortable subject, but is necessary to protect your loved ones from enduring undue financial burdens after you've passed. Regardless of the size of your estate, having even the most basic of estate plans in place is critical. We will work with you and your attorney to ensure that estate plan is customized for your particular needs.
Some major estate planning elements include:
- Creating a will to ensure that your final wishes are carried out.
- Creating a living will to ensure that your wishes regarding end-of-life care are carried out.
- Naming a health care proxy to make medical decisions for you, in case of your incapacitation.
- Naming a durable power of attorney to make financial decisions for you, in case of your incapacitation or passing.
- Establishing a guardian for your living dependents.
- Limiting estate taxes by setting up trust accounts in the name of beneficiaries.
- Ensuring that beneficiaries have been named on plans such as life insurance policies, retirement accounts, etc.
- Setting up funeral arrangements.
- Implementing ways to reduce your taxable estate while still providing for your beneficiaries.