We typically work with the client’s estate attorney (or recommend an estate attorney) to help the client establish three key components of a comprehensive estate plan. The three key components would be a valid Will, Living Will and Power of Attorney.
Listed below are some of the key issues these documents would address:
* Name whom you would want to receive your assets after you die.
* Minimize taxes, court costs and unnecessary legal fees by providing detailed written instructions as to how your assets or to be divided upon your death.
* Instructions for your care should you become disabled before you die.
* Name a guardian and an inheritance manager for minor children.
* Provide for beneficiaries who may be irresponsible with money or who may need future protection from creditors or in the event of divorce.
* Provide for the transfer of your business upon your retirement, disability, or death.
* Fulfill your charitable intentions upon your death.
* These issues, as well as others, are typically addressed in detail with the client and their respective estate attorney.