An effective estate plan will safeguard your hard-earned wealth, limit exposure to risk, and ensure your intentions are honored. Sampath Law Group can help you establish a proper strategy for achieving all of your estate planning goals. There are several instruments frequently utilized to execute a comprehensive estate plan, which may include the following documents:
Planning for the wellbeing and financial security of your loved ones can feel like an overwhelming task. Our attorneys appreciate the work you have put into building your legacy, and can help you develop a carefully prepared estate plan to protect it.
- Last Will and Testament: Appoints a representative to handle the administration of your estate after death, such as paying taxes and outstanding debts, and distributing your assets to your selected beneficiaries.
- Revocable Living Trust: Directs the administration of your property in the event you become incapacitated and after your death. By transferring title to your property to a trust, you may efficiently distribute your assets after death while incurring certain tax advantages and avoiding probate court supervision.
- Financial Power of Attorney: Gives someone else authority and direction for handling your financial affairs, and defines the scope whereby another may make financial decisions on your behalf.
- Healthcare Power of Attorney: Authorizes another person to make medical and healthcare decisions on your behalf. Preparing a healthcare power of attorney is also an effective way to designate different agents to assist with financial and healthcare decisions.
- Healthcare Directive: Provides instruction regarding the medical treatment you intend to receive in the event that you are having a medical emergency or facing a terminal illness and cannot communicate your wishes.