A will allows you to designate beneficiaries and administrators and to avoid default probate laws. We will draft your will to include your personal assets, which will then flow into the trust in the case of your death. The trust will also specify where your dependent children will go if you were to pass away. These decisions are far too important to hand over to the court system.
A living, or inter vivos, trust is an instrument which allows you to avoid the cost and expense of probate (the legal process that takes place after you die). These types of trusts are considered living documents that can be altered during your lifetime. Once you die, however, the trust becomes “irrevocable” requiring your successor trustees and beneficiaries to follow your desires. Trusts are also private documents, meaning you do not need the court or attorneys to administer.
A living will is an important health directive. The document communicates—in a legal form—your desires in case of a life or death situation where artificial life support is needed. Without a living will your friends and relatives may fight amongst themselves as to whether or not to terminate your life support. A living will becomes effective only when you cannot communicate your desires on your own.
Power of Attorney
Aging can sometimes bring devastating consequences, including illnesses which may eventually rob you of your capacity to care for yourself. Because the trust only comes into play when a person dies, you may end up needing a temporary guardian who can access your medical and financial records for the duration of your life. The Power of Attorney will allow your designee to assist you in filing taxes, accessing medical records, selling property, and obtaining government assistance.