Do you think you don’t need a will?
Or maybe you drafted a will by yourself that you think is adequate.
Did you know that Warren Burger, former Chief Justice of the Supreme Court drafted his own will, yet even his resulted in hundreds of thousands of dollars in unnecessary taxes and probate fees?
The lesson? You should have a will - and it should be drafted by a professional estate planning attorney.
How a Will Can Bring Benefits to Your Family When They Need It Most
A properly drafted will can give you and your loved ones numerous benefits. It outlines exactly who you want to receive your property after you pass away, rather than having the state distribute your assets.
More importantly, it allows you to name a guardian for your minor children so that, in the unfortunate circumstances of a premature death, your children will be immediately provided and cared for.
Your will can also set up a trust for the financial benefit of your minor children.
Health Care Directive - Make the Hard Decisions So Your Loved Ones Don't Have To
When I draft a will for a client, one extra benefit I include is a Health Care Directive and a Durable General Power of Attorney as part of a complete estate plan.
The Advanced Health Care Directive lays out your desires on issues including:
- Whether you want life prolonging medical care
- If & How your organs may be donated
- Artificial feeding
- Disposal of your remains
- Pain treatment
- Funeral plans & arrangements
Once it is drafted, your agent has a duty to work with your doctor to ensure that the decisions in your will are respected and carried out.
If you fail to draft a health care directive, those decisions will be made for you by your family members.
Burdening your family with these decisions can cause tension, stress and conflict at the worst possible time.
Another important element we build in is the Durable Power of Attorney. This allows you to name an agent to make financial decisions for you if you become sick or incapacitated.
It gives your agent the power to pay your bills so that your financial responsibilities are met even while you are unable to do so yourself.
If you do not have a properly drafted power of attorney document, you can suffer damage to your credit, be held liable for unpaid taxes - with penalties - and even have your assets seized.
Start the Will Process Now - You'll Be Glad You Did
Contact us today for a free consultation to see how you and your family can prevent these problems and also benefit from a properly drafted Last Will and Testament and Estate Plan.
“All you can take with you is that which you’ve given away.’”
~ It's a Wonderful Life 1946