Wills & Trusts

Goals of Estate Planning

  • Accumulate assets - I often work with financial planners
  • Prepare for Incapacity - plan for when you can no longer manage your own finances
    • Avoid guardianship
    • Allow someone you trust to pay your bills and make financial decisions
  • Preserve assets at death
    • Avoid probate
    • Pay off creditors
    • Facillitate the transfer of assets to loved ones

Who needs an Estate Plan? Everyone. 

If you die with assets in your name, a probate court must transfer the assets to your beneficiaries.

Last Will and Testament vs. Revocable Living Trust. 

The Will does not avoid probate; however, it gives you some control over the process. Essentially, the Will instructs the probate judge who you trust to represent the estate, ensures creditors are paid, ensures beneficiaries receive the proper amount. 

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