Your estate is personal to you and so should your estate plan be personal to you.  Sometimes unanticipated events threaten to take our hard earned assets.  With proper planning, the Jordan Law Office can reduce the risks to you and your family.   

A typical estate plan will include a Last Will and Testament, Advance Health Care Directive, Power of Attorney and Trust.  The type of Trust depends on your personal needs.

Last Will and Testament

Your Last Will and Testament (a.k.a. “Will”) allows you to distribute and share your assets to whomever you chose.  A Will is a written document that is signed by you and which must be signed by at least two independent witnesses.  A Will comes in many forms and the distribution of your assets will vary depending on your needs.  A Will can either be very explicit or very general or somewhere between.  Whether you need a simple Will or complex Will depends on how you want to structure your estate.

Advance Health Care Directive

If you are unable to make or express your medical treatment decisions, an Advance Health Care Directive (a.k.a. “Living Will”) is a document that instructs your family, friend and healthcare providers on how to best provide your healthcare.  An Advance Health Care Directive is an integral part of your estate plan because you pre-determine the medical treatment you want and do not leave these critical life and death decisions to your family and friends.  Even if your family “knows” what you want if faced with a life threatening medical condition, if you do not have an Advance Health Care Directive, there is no guarantee that medical providers will follow your wishes which could cost your family thousands of dollars in medical and legal fees.  

Power of Attorney

If you are incapacitated and unable to make decisions regarding your daily life needs, you may want to entrust someone to handle your day-to-days needs.  For instance, if you own a home with a mortgage, you will need someone to pay your mortgage payment from your bank account.  Through a Power of Attorney you nominate a person of your choosing to handle your daily affairs and also instructs your bank, insurance carrier, Credit Card Company, etc., to allow your representative to make sure your affairs remain in order.  Without a Power of Attorney, you family may be required to incur the unnecessary expense of having a court name a conservator or guardian for you.

Trust

A Trust is simply a document created by you that names a person or persons as Trustee and instructs your Trustee how you want your estate managed and distributed.  A Trust comes in many shapes and sizes.  By placing most of your assets into Trust, you can avoid the expense of probating a major portion of your estate and reduce the legal costs.  Depending on the size of your estate, you can probably benefit from creating a Trust.   A Trust can be created to fit your needs and to provide as much asset protection to your family as possible.