Wills. If you have assets, no matter what your age, marital status, or financial wealth, you should have a will (made while you are still capable) in the event of your death. It is a courteous thing to leave behind a streamlined plan for your family to follow. A Will is your best method for specifying who will receive your property, rather than having the state determine where your property will go. In your Will you can designate who will become guardian of your minor children. Peace of mind is just 2 one hour meetings away. $550 single person or $850 couple.
Trusts. A Trust arrangement can be used as a management tool in a variety of situations. Whether a revocable living trust plan is right for you or your heirs depends on numerous factors. In some situations, the use of a trust can minimize taxes or settlement charges.
Powers of Attorney. If you become incapacitated for some period of time, you would be unable to manage your assets or affairs. A power of attorney form authorizes someone else to act on your behalf in such situations. Some forms address financial matters and some address health care matters. Important decisions must sometimes be made to protect your interests, and having a power of attorney (made while you are still capable) is the only way to avoid a more expensive and restrictive guardianship proceeding.
Living Wills. A Living Will (sometimes called a Directive to Physicians) is a form that can help you avoid being kept alive under hopeless conditions. If a person without a Living Will becomes irreversibly incapacitated (like brain dead), the attending doctors and clinics will feel obliged to continue life saving procedures long after it makes any sense. A Living Will can relieve your loved ones from guilt and financial loss.
Settlement & Probate. When someone dies, his or her property must be distributed to others. The goal is to select a method of settlement that will accomplish that result with a minimum of cost and hassle. An old-fashioned probate proceeding can usually be avoided. Some settlement situations involve complications, and then finding an efficient dispute resolution plan becomes most important.
Trust Administration. Some trust arrangements can last for many years, and questions about management duties, responsibilities and prerogatives can arise. Getting advise early can help to minimize problems and avoid unnecessary costs.
Estate Tax Planning. The estate tax rules are constantly being changed. If you have assets of $2 million or more, you should consider ways to manage the risk that some estate tax liability could be faced when you die. There are still numerous good strategies that can be considered to manage such risks for families.
Medicaid Planning. With the costs of medical care rising, more families are being faced with the need to seek Medicaid financial assistance. If you reasonably foresee needing intensive care, you can consider certain methods of minimizing the loss of family assets. The Medicaid rules permit a number of such planning measures.
Investment Management. Managing financial or property assets can be a persistent challenge for many people. Obtaining appropriate management services can save you time and contribute to a higher probable rate of return for your account. I assist investors and managers with questions pertaining to asset management.