Will & Trust
You have spent much of your life accumulating and managing the property you now own. All of your property; namely, your home, other real estate, life insurance, annuity, stocks, bonds, bank accounts, certificate of deposit and any other property you may now have or receive in the future, are the products of your personal efforts. Thus it is in your best interests to retain as much as possible of these hard-earned assets for your family and not to spend them for taxes and estate settlement costs.
Estate planning enables you to continue to manage your property and to insure you will enjoy the benefits from your property for your lifetime and then to pass the maximum amount of property to your beneficiaries with the least possible cost and with a minimum of “interference” from outsiders, and do so without paying any more estate and inheritance taxes that are absolutely necessary.
There are number of estate planning tools available to achieve best results for you, such as wills; gifts; joint tenancy; trusts, etc.
WILL - In the will you can state who you want to inherit your property and name a guardian to care for your young children should something happen to you and the other parent.
TRUST is an arrangement where trustee holds the property of the trustee for the benefit of the beneficiary. Different kind of trusts can help your survivors avoid probate, a time-consuming and expensive process, reduce estate taxes, or setup long term property management.
DURABLE POWER OF ATTORNEY - gives attorney-in-fact power over your assets to the person you have named as your agent. This enables your agent to transfer assets that have not been placed into the trust (for one reason or another), instead of the necessity of a court-ordered conservatorship over such assets, in the event of your incapacitation. It also allows such person the authority to sign tax return and other similar documents for you.
ADVANCED HEALTH CARE DIRECTIVE - allows your agent to make medical decisions on your behalf in lieu of your own decisions concerning you desires for specific medical procedures, such as surgery or other medical treatment (including the termination of life support systems), in the event you are unable to do so.
Estate planning enables you to continue to manage your property and to insure you will enjoy the benefits from your property for your lifetime and then to pass the maximum amount of property to your beneficiaries with the least possible cost and with a minimum of “interference” from outsiders, and do so without paying any more estate and inheritance taxes that are absolutely necessary.
There are number of estate planning tools available to achieve best results for you, such as wills; gifts; joint tenancy; trusts, etc.
WILL - In the will you can state who you want to inherit your property and name a guardian to care for your young children should something happen to you and the other parent.
TRUST is an arrangement where trustee holds the property of the trustee for the benefit of the beneficiary. Different kind of trusts can help your survivors avoid probate, a time-consuming and expensive process, reduce estate taxes, or setup long term property management.
DURABLE POWER OF ATTORNEY - gives attorney-in-fact power over your assets to the person you have named as your agent. This enables your agent to transfer assets that have not been placed into the trust (for one reason or another), instead of the necessity of a court-ordered conservatorship over such assets, in the event of your incapacitation. It also allows such person the authority to sign tax return and other similar documents for you.
ADVANCED HEALTH CARE DIRECTIVE - allows your agent to make medical decisions on your behalf in lieu of your own decisions concerning you desires for specific medical procedures, such as surgery or other medical treatment (including the termination of life support systems), in the event you are unable to do so.
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