Estate Planning

Estate Planning encompasses more than simply writing a “Last Will and Testament”.  A good estate plan organizes a person’s (or a family’s) financial and health care decision-making.  This means that if a sudden illness or injury renders someone incapacitated, a plan is in place.

There are several types of events that get people thinking about creating an Estate Plan: marriage, birth of a child, traveling overseas without your children, divorce, or simply because you felt that it was time to get your wishes organized.  David can provide you with peace of mind by completing an Estate Planning package that instructs your family and friends should you find yourself suddenly incapacitated by injury or disease.  All packages include:

  1. Last Will and Testament
  2. Power of Attorney for your financial affairs,
  3. Health Care Directive that guides your medical treatment should you lose the capacity to make your own decisions.
  4. A Beneficiary Deed to gift your home outside of Probate.

Basic prices are as follows:

  • $550 = Individual Will, Power of Attorney, Health Care Power of Attorney, Beneficiary Deed
  • $650 = Couples’ Wills, Powers of Attorney, Health Care Powers of Attorney and one Deed

In many cases, it is recommended that you create a Revocable Living Trust that can protect your assets during your lifetime, and then can direct the distribution of your assets once you have passed.

  • $950 = Individual Trust, Pour Over Will, PoA, Health Care PoA, and one Deed
  • $1,250 = Couples’ Joint Trust, Wills, Powers of Attorney, Health Care Powers, and one Deed

Everyone’s needs are different, and everyone’s needs change with the passage of time and the occurrence of life’s events.  Some situations may require more extensive planning beyond the scope of the pricing above.  (Special Needs Trusts, Business Succession Planning, or having a Federally Taxable Estate, for example.)  Regardless of your particular situation, David will customize a plan to best fit your needs.  He is also happy to perform a complimentary review of any Wills or Trusts that you may have had done previously to ensure that they still meet your current needs.

A frequently forgotten planning step is having your college-aged children sign a power of attorney before heading off to school.  Attaining the age of 18 qualifies your student as a legal adult.  You may be paying for their housing and tuition, but that does not grant you access to your student’s financial aid, class schedule/grades, or general account balances.  David can provide your students with a financial and a health care power of attorney for a nominal fee.

We all hear that we don’t want our estate to “go into probate” upon our deaths; but few of us know what that really means.  David will show you how to avoid probate through a combination of beneficiary designations and by writing a Will and/or a Trust that sufficiently describes how each and every asset and debt should be handled.