Wills and Estates
One of the best things you can do for your loved ones, is to leave them a road map of your desires for after you have passed on. The best way to do that is by creating an Estate Plan. At GRW-LAW, we will assist you in creating your Estate Plan which will consist of: 1) Will; 2) Power of Attorney; 3) Living Will or Healthcare Power of Attorney; 4) a testamentary trust if you have minor children; and 5) a Trust if necessary. Through our initial consultation, we can direct you on the best planning solution to fit you and your family’s needs.
And the Lord answered me, and said, write the vision and make it plain upon tables, that he may run that readeth it. Habakkuk 2:2
Last Will and Testament – Serves several functions and is probably the most recognizable of all Estate Planning documents. Through your will, you will name your Executor, Guardians for your minor children, and dispose of your estate (deciding who will get what). This document will help provide the easiest transition for your family and could prevent discord amongst your heirs.
Power of Attorney – This document is only effective during your life. The Power of Attorney (POA) allows someone of your choosing to act on your behalf to handle your business affairs. The POA can become effective immediately or at incapacity depending on the circumstances.
Living Will/Health Care Power of Attorney – This document will spell out your health care desires in the event of a debilitating illness. The healthcare POA appoints someone to make medical decisions on your behalf if you are no longer able to do so on your own. You can also make elections regarding end of life scenarios which will remove the pressure from a loved one who may have to make those decisions without your input.
Trust – A trust is created for the purposes of owning property outside of your individual capacity. You have to ability to transfer property into a trust during your lifetime or afterwards. A trust has a life span beyond your own. This means that a trust can continue to operate after your death in the same manner it operated prior to your death. Certain types of trusts also provide a level a creditor protection which can be a tremendous asset in the event long term care is ever needed.
The Probate Process – Once a decedent passes away, their estate needs to go through probate. If the decedent left a will (testate), the will has to be probated and proven to be valid. At that point, the Executor can disburse property based on the direction of the will. If a decedent dies without a will (intestate), then an state will have to be opened and an Administrator will need to be appointed in order to probate the estate.
At GRW-LAW, we are here to serve your needs in Wills and Estates from start to finish. We can guide you through the planning process as well as assisting in the Administration of your Estate.