Regardless of your income, estate planning is a vital part of your financial plan. Planning ahead can give you greater control, privacy, and security of your legacy.
It’s important to work with an attorney on your estate plan. The attorney’s role will include guiding you through the creation of fundamental estate planning documents. These may include a will, health care proxy, and durable power of attorney.
You’ll make the decisions, but your attorney can help you think through and understand the sometimes complex implications of each option. They will also help you communicate your wishes clearly, avoid mistakes, minimize taxes, and adjust your plans as time goes by or your circumstances change.
A living will is a written document that allows you to control your own end-of-life decisions in case of a terminal illness or accident. In a living will, you appoint a representative who can make end-of-life decisions in consultation with medical professionals who are providing care. Without a living will, end-of-life decisions may require court involvement. A living will is part of a good estate plan.
An attorney can be well worth the cost—significant savings can result from thorough, informed planning. Knight Law has helped hundreds of satisfied clients with their estate planning and succession planning. We offer the following services to those looking to establish their estate plan and better understand their options.
What is a Will?
Generally speaking, a will is a legal document that coordinates the distribution of your assets after death and can appoint guardians for minor children.
What is a Trust?
A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Trusts can be arranged in many ways and can specify exactly how and when the assets pass to the beneficiaries.
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