Estate Planning

Estate Planning - Plan your Estate or the State will plan it for you.

Why do an estate plan? Money and convenience. That easy and that simple. Without a plan, state law dictates what happens to a person and their things when they no longer are able to. There are a two types of plans, simple and comprehensive.

The simple plan includes the following:

• a will.
• durable power of attorney.
• medical power of attorney for medical decisions.
• medical directive or living will (so no heroic measures are used to prolong life).
• declaration of guardianship-inter vivos (during life) or testamentary (contained in a will).
  

A comprehensive plan would include:

This plan can substantially reduce taxes and allows control over assets so as to prevent them from being subject to claims and unconventional dissipation by a beneficiary who may not be as astute or mature as is necessary to effectively management income producing assets.

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