Marietta Attorneys Offering Comprehensive Estate Planning Services
Proper estate planning is necessary to ensure that your property goes to the people and charities of your choice. A proper estate plan can also help your family avoid unnecessary court costs, taxes, attorneys’ fees and disputes between family members. Estate planning may involve drafting a will, as well as power of attorney for health care and a general durable power of attorney.
A will is a document that can be used to transfer your assets after death directly to your chosen beneficiaries. Once you create it, your will should be reviewed and updated periodically to ensure that it clarifies your wishes after any life-changing events such as marriage, birth of a child, or divorce.
Important: Families may encounter many problems if a loved one dies without a will. To help your family avoid confusion, heartache and unnecessary court costs, it is best to draft a will as soon as possible with the help of an experienced estate planning attorney.
A testamentary trust is a trust created within a will. The assets transferred into the trust are held by a trustee for the benefit of a beneficiary. The beneficiary has no direct access to the assets held in the trust, and the assets are protected from the beneficiary’s creditors. Testamentary trusts are often used to protect beneficiaries who are disabled and receive public benefits.
Our firm can help you explore all of your estate planning options, including the addition of a testamentary trust.
Power Of Attorney
Power of attorney is a document that allows a person (the principle) to appoint another person (the agent) to manage and handle the principle’s finances. Once appointed, the agent owes a duty to the principle to only act in the principle’s best interest. A power of attorney may be used when the principle is still competent but needs someone else to handle their financial affairs.
A power of attorney can be broadly written to give the agent all-encompassing powers, or narrowly written to give the agent only specific powers.
A power of attorney can also be drafted to take effect immediately or to take effect only upon the principle’s incapacity. A power of attorney can be a very useful tool in avoiding a guardianship or conservatorship, as well as court involvement in your personal affairs. Contact the Chan Law Firm LLC for a consultation to make sure that you are protected if you are ever unable to make decisions regarding your property.
Health Care Power Of Attorney (Living Will)
A health care power of attorney is a document that allows an agent to make health care decisions for a principle if the principle is unable to do so. The health care power of attorney provides directions for the agent regarding how to make decisions about life-sustaining treatments when the principle is not longer able to make those decisions.
Having a health care power of attorney can alleviate the stress on loved ones if they ever have to make decisions about your medical treatment while you are incapacitated. Contact the Chan Law Firm LLC for a consultation to ensure that your wishes regarding your health care are properly documented.