Preparing for the End
Estate planning breaks down into two categories: end-of-life decisions and asset distribution. The best estate plans will use both of these prongs.
Designating end-of-life care practices can be vital to ensuring that an individual’s wishes can be ensured. Most often, this takes the form of an advance healthcare directive, also known as a living will. A living will can not only designate do-not-resuscitate orders, it can also nominate a trusted individual to act as the medical power of attorney and enforce the directives in the living will. Living wills can also list decisions related to nursing homes.
The other major prong of estate planning is asset distribution. There are two major ways to distribute assets: wills and trusts.
A will allows an individual to create a guide to how to split up assets. This can include nominating a trusted individual to act as executor of the will. A will can also ensure that assets are distributed according to state law.
Trusts can be used in a way similar to wills, but they will skip a few key parts. For example, assets placed in an irrevocable trust are not counted towards the estate taxes levied against the estate. Additionally, trusts can be released to their designated beneficiaries more quickly than in a will by circumventing the entire probate process.
Planning For The Future
If you want to create an estate plan to ensure that you can enforce your wishes when you are no longer able to advocate for yourself, you will need the help of an experienced Trusts & Estates attorney. A Trusts & Estates attorney can ensure that your life plans are legally enforceable and airtight by utilizing their experience and mastery of the subject matter.
In order to achieve this best outcome, however, you will need an attorney who has the expertise and resources to take your case all the way. That’s why you should contact Attorney at Law. By partnering with AAL, you will be able to avoid slogging through the quagmire of unscrupulous lawyers looking to exploit your case.
At AAL, we only partner with the best firms in your area, helping you find the best attorney for your case. Don’t wait, contact AAL today to be matched with skilled and experienced attorneys in your area who practice Trusts & Estates law.