Last Will and Testament
- When is the last time your will has been reviewed?
- Do you need to change any of the beneficiaries?
- Are Executors and Guardians still appropriate choices?
- Do you need a Trust Agreement?
- The purpose of a Trust Agreement is to permit you to control who gets your assets and when.
- It can help you avoid Probate and save Estate taxes.
- In larger Estates it also helps to reduce Estate taxes.
- It may also serve as an important document in the event of incapacity and control distribution of assets upon death based on age and needs of your children.
Durable Power of Attorney
- In the event you are unable to sign legal documents because of incapacity or not available, you may give a person authority to handle your finances and property.
Durable Power of Attorney for Health Care and Living Will
- In the event that you become injured or terminally ill, a Durable Power of Attorney for Health Care enables others to make health care decisions as well as determine whether or not life support systems may be removed.
- It is very important that you make your wishes known to your family members regarding life support.
Provide for Orderly Transfer of Business and Assets
Business owners should have a Succession Plan such as:
- Who is going to run your business if you are not there?
- If you won a business with others, do you have a Buyout Agreement?
Review Account Ownership and Beneficiary Designations
- You should contact all financial institutions that you have dealings with to insure that they are properly titled.
Where to Maintain Legal Documents
- Be sure that your children/family know where your legal documents are located.
- Who knows the password to your account information?
- Do you have a complete list of all your assets?
As you can see, it is very important that a periodic inventory of the foregoing to be taken to insure proper and orderly administration of your affairs can take place in the event that something happens to you. This will not only insure proper and orderly administration of your estate, but it will also be a tremendous help to your beneficiaries.
Call us… we can help… 440-286-9571 or email us at firstname.lastname@example.org.