WILLS & TRUSTS ATTORNEY

Will: Also referred to as a Last Will and Testament, a will designates who receives your assets when you die. A properly drafted will created with a wills and trusts attorney ensures your wishes are legally enforceable. A Will also names a Personal Representative (Executor) who will oversee the administration of your estate according to the instructions in your will and trust planning documents. If you have minor children, your Will is where you appoint a Guardian.  A Will only becomes effective upon your death and is subject to probate.

Trust:  A trust is an agreement that appoints a Trustee to manage and administer the property of the person creating the trust (Trustmaker). A trust attorney can help determine which type of trust best fits your estate planning goals. Although there are many different types of trusts, the most common trust for estate planning is a revocable living trust created with a living trust attorney. While you're alive and well, you are the Trustmaker, Trustee, and beneficiary of your trust. As the Trustee, you oversee all of the trust assets and use them as you see fit. If you become incapacitated, a Successor Trustee assumes control of the trust assets and ensures that your needs are met. At your death, your trust is like an instruction manual for how you want your estate administered. One of the great benefits of a properly funded living trust is the fact that it can avoid or minimize probate, reducing the expense, delays, and publicity associated with the probate process.
 

Additional Documents for Wills and Trust Planning

Durable Power of Attorney: If you become incapacitated (unable to effectively manage your financial affairs), a properly drafted power of attorney prepared by a wills and trusts lawyer allows someone you trust to manage these responsibilities. This will allow your appointed agent to access your financial accounts, handle your taxes and manage your real property.  Without a properly drafted power of attorney, it may be necessary to apply to a court to have a guardian or conservator appointed to make decisions for you during a period of incapacitation. (Translation: A huge headache).

Health Care Power of Attorney: When you are unable to make your own health care decisions, your designated health care agent will make them for you. Your agent will follow the instructions that you have outlined in this document. These documents work together with your wills and trusts estate plan to ensure both your financial and medical decisions are handled according to your wishes.

HIPAA Authorization: The Health Insurance Portability and Accountability Act mandates the confidential handling of your protected health information. Medical providers may only share your medical information with people whom you have specifically designated.

Living Will: For end-of-life medical decisions, a Living Will spells out what you want or don't want done to keep you alive. This may include instructions for resuscitation, mechanical breathing, tube feeding and medication. Your Living Will also has information concerning organ donation.