Estate Planning
We are excited to begin drafting your estate planning documents. Your estate planning documents may include the following:
A Will
A Durable Power of Attorney
A Directive to Physicians & Medical Power of Attorney
Questionnaire : Frequent Questions
Who do you want as Executors?
Who do you want to administer your estate in the event of your death? Pick someone who is responsible and who you trust to handle your affairs after your death. They will probate the Will and distribute the property in the manner directed in your will. Many people choose their spouse or an older child as their first option. However, think through and also provide alternatives in case your first choice is unable to serve in that capacity. Make sure and obtain the consent of the proposed executors.
Who do you want as Trustee?
Your will creates a contingent trust in the case you pass away and leave part of your estate to children under the age of 25. The trustee of your trust should be someone who will be capable of administering that trust until the child (the “beneficiary”) reaches the age of 25. Choose someone who is responsible and trustworthy for that role. Please provide at least one alternative in the event your primary choice is unable to serve in that capacity. Make sure and obtain the consent of the proposed trustees.
Who do you want as Guardian?
Guardians act as the “parents” of the children in the event that neither you nor your spouse are alive to raise them. They decide where the children go to school, what clothes to wear, what brand of toothpaste they use, etc. Please provide at least one alternative in the event your primary choice is unable to serve in that capacity. Make sure you obtain the consent of the proposed guardian.
Who do you want as your Agent?
A Statutory Durable Power of Attorney is a very potent document. It allows the person you name (called the “Agent”) to do anything financially that you could do yourself. For example, your Agent could buy or sell real estate, open and close bank accounts, buy or sell investments, etc. Your Agent should be someone who is very trustworthy and is capable of making good decisions Typically couples name their spouse first, but you can name
Who do you want as your Agent for Healthcare?
Who would you want to make health care decisions for you in the event you could not make your own decisions (e.g. you are in a coma)? Typically, couples name their spouse first, but you can name anyone in any order.
Directive to Physicians?
Directive to Physicians: A Directive to Physicians is sometimes called a “Living Will”. This document simply states that if you are hopelessly and incurably ill, you do not wish to be kept alive on life support systems. Do you want to be kept alive on life support if you are hopelessly terminally ill?
