If you have not acted on your good intentions about creating a will, call Hendrik Snow today to make your will become a reality. Drafting a will is not a difficult or time-consuming process when you consult with the Snow Law Firm.
Drafting a will can give you peace of mind in leaving your children and loved ones clear directions to settle your affairs and distribute your assets. It gives you control to choose which person, and an alternate, to follow your will and direct your estate. Having a will can keep this process private, and can minimize the burden of the court process. A will can establish who should have child custody, and who should manage your children’s financial affairs until they reach a responsible age.
Health Care Directive
Mr. Snow can help you create a health-care power of attorney (the “advance healthcare directive” formerly a “living will”) to assist your loved ones in making decisions about the degree and intensity of health treatment in your advancing years.
Trusts for assets or special needs
A trust is another tool in estate planning. A trust can be created to hold assets for minor children, for charitable giving, and for dealing specifically with real property interests. These trusts can endure for preserving your intentions to manage, gift, or to sell property or investments and distribute proceeds well after you have passed. The trust has the additional benefit of privacy. Assets may be transferred and managed through a trust with much more assurance of privacy than through the administration of a testate estate.
A trust is an important tool in the care of persons with special needs. A special needs trust can be created to provide for the long-term care of a loved one with a debilitating physical injury, or mental incapacity. This trust can protect assets from claims of creditors, from identity theft, or can be set up to ensure the eligibility to receive public benefits. Managing the trust assets and distributions can be kept private, out of sight of meddling family members or care-givers.
Estate planning now can take the guesswork away from family members and loved ones about who should receive your property and possessions, how it should be transferred and when the transfer can occur. Estate planning now can protect assets for your children until they achieve an age of financial responsibility. This planning can assure your choice for selecting a responsible person to manage the finances and supervise the care of a relative with special needs.