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What Do You Get in an Estate Plan?
A Will: in a will, you can designate things like who will raise your minor children, who gets any assets of yours that do not pass automatically, and other specific bequests.
A Trust: there are as many different kinds of trusts as things you might want to do with them. Basically, a trust is something you create to hold assets for the benefit of somebody else. You might, for example, create a trust that receives all of your assets so that income can be used by your spouse during his/her lifetime but ultimately distributes the assets to your children. Another type of trust can be used to minimize estate taxes or protect your assets from some of the costs of long-term care.
A Health Care Proxy: this designates the person you want to make medical decisions for you if you are incapacitated.
A Durable Power of Attorney: this designates the person you want to make financial and legal decisions for you if you are incapacitated.
There are other things you can include in your estate planning, including a Realty Trust, a Pet Trust, a Medicaid Trust or a Special Needs Trust, but these are the basics.
"From my first conversation with Emily, I knew I had picked the right law firm to handle my Estate Plan after having procrastinated for some time before I decided it was time to get my estate in order. Previously, I spoke with a couple other lawyers and I did not feel comfortable with their approach prior to calling Emily. Jenna did an excellent job in assessing what I wanted to accomplish and completed my will, trust and other documents in a very short time. I am so happy I made the right choice in choosing Slnlaw as my estate team."
"SLN Law was prompt, courteous and very professional. Emily responded very quickly to my request, was very knowledgeable on the topic I needed help with and provided reasonable, sound advice. I would definitely recommend this law firm to others and would use them again, if needed."