Frequently Asked Questions Estate Planning
What does a Will do?
A will is a legal document that allows you to name a guardian for your child and specify who will inherit your property after you die. Without a will, you will have no say in what happens to your property.
What is Probate?
Probate is the legal process an estate passes through to make sure property is distributed in accordance with a will or according to the laws of the state if there is no will.
How long does it take to Probate a Will?
The probate process usually takes about a year to complete as the validity of the will must be established.
What is a Living Will?
A living will is a legal document that a person uses to make known his or her wishes regarding life prolonging medical treatments. It can also be referred to as an advance directive, health care directive, or a physician's directive. A living will should not be confused with a living trust, which is a mechanism for holding and distributing a person's assets to avoid probate.
What is a Health Care Power of Attorney?
A Durable Power of Health Care Power of Attorney empowers a person you designate to make health-care decisions for you. Health care decisions include the power to consent, refuse consent or withdraw consent to any type of medical care, treatment, service or procedure.
What is a Durable Power of Attorney?
A Durable Power of Attorney is an authorization to act on someone elses behalf in a legal or business matter.
What does a Trust do?
A trust enables you to create a separate legal entity to protect your property and assets from probate, some taxes** and public scrutiny. Trusts may be established while you are living or upon your death as set forth in your will.
**We are Not Certified Public Accountants, we advise you to allow us to consult with a CPA to protect your interests.