Although writing a will is definitely part of estate planning, there is much more to controlling what happens to your assets after you die. You want to be sure your wishes are followed and that your minor children are provided for.
You can also make provisions for your heirs to avoid certain taxes that are imposed on inheritances. A comprehensive and well written will can also avoid later litigation by wannabe heirs who you have specifically omitted from inheriting under your will. Some aspects of estate planning that the Bertrand Law Firm, LLC can assist you with include:
- Wills: In your will, you specifically state how you want your assets to be distributed upon your death. You name a trusted person to be your executor whose duty it is to see that your wishes are followed. After your death, your will is filed with the probate court which oversees the distribution of your assets to be sure the executor is complying with your plan.
- Trusts: There are a number of different types of trusts that can be formed for the transfer of your assets outside of your will. This will not involve the probate court.
- Power of attorney: When you execute a power of attorney, you give someone you trust to make financial decisions on your behalf when you are unable to make them for yourself. You establish the terms of the power of attorney and it is up to you how much power you give to the person to whom you give your power of attorney.
- Healthcare directive: This document names someone you trust to make health care decisions for you when you are unable to make them for yourself either due to your mental or physical condition