No one enjoys thinking about their mortality, but planning for an unknown future can produce peace of mind. There is security in knowing that everything you have worked for will be there for your family in exactly the way that you would like. Many of our clients let us know in a world where they can’t control everything, there is a sense of pride that comes with taking steps to control what you can for your loved ones.
In the last few months, we have seen unprecedented times with the spread of the coronavirus and many of our clients have felt the need to revise or create estate planning documents for that “just in case” scenario. Having a will can save your family from the headache of having to deal with the more complicated process of probate court.
The current process of estate planning may seem challenging but with technology, social distancing and sanitation guidelines, we have set up a new and careful process to take care of you and your family. Call us to discuss how we can help you secure your future for the people you care about.
Helpful Tips for Filling out our Wills Questionnaire
After you contact our office, we will send you a questionnaire to help understand what you are looking for when you plan your estate. We are available to help you answer any questions you have, but we have provided some helpful information for you to reference below. These questions will provide the answers we need to start with the four foundational elements of your estate plan: 1) Last Will and Testament, 2) Power of Attorney, 3) Healthcare Power of Attorney and 4) Living Will. We’ve broken down the questions and what you need to know to begin your own estate planning preparation.
Who would you like to serve as your Executor/Co-Executor or Personal Representative?
First, an executor is a person who will oversee the division of your money and property based on the instructions you leave in your will. The executor makes sure that everything requested in the will is done. Many people name their spouse, adult child or close friend or relative to serve as executor.
Also, we ask our clients to name a second person who could do this job if the first person chosen is not able to be the executor. This helps us in our efforts to protect against the unexpected in the future since we never know what changes may happen.
Who would you like to serve as your Trustee?
In our foundational estate planning, we may need to set up instructions for a trust to be formed if you have children under the age of 18 at the time of your passing. A trustee is the person in charge of managing and giving that money to your children based on the instructions we set out in your will. For example, many of our clients choose to have that money in the trust account until the child turns 25 years old and has reached a more stable, mature age.
We will work with you to customize these trust instructions to meet your family’s needs and circumstances.
Who would you like to serve as your power of attorney?
A general power of attorney is a legal document that gives another person the ability to handle a transaction for another person. These tasks can range from banking, selling real estate, signing contracts and other personal and business matters. The person with the power to act on your behalf is referred to as the agent. The agent can be given broad power or it can be limited to one specific act. A power of attorney can be granted at any point and it can also be revoked at any point. We will evaluate your needs and construct a power of attorney that is as broad or narrow as your situation needs.
Who would you like to serve as your health care power of attorney?
The health care power of attorney is different from a general power of attorney. The health care power of attorney assigns a trusted person to make medical decisions if you are unable to. In the event that a doctor needs someone to make choices about your medical care, other than you, you will want to choose a trusted person with your best interest in mind. We want to work with you to feel confident that your medical care is in good hands.
Who would you like to serve as guardian for you minor child(ren)?
If you have children who are under 18 years old, an important reason to prepare a will is to make sure that you have a guardianship plan in the event of the worst-case scenario. Selecting a guardian protects your children from a custody dispute or temporary foster care if both parents are deceased.
This can be the most difficult decision and is the one that we spend the most time discussing with many families. We believe that it is important to discuss this decision with the first and second choices you select for this possible role to make sure they are agreeable and willing to take guardianship. That way, in the rare chance that it is necessary, you will know that your children will be cared for by the people you most trust for the job.