Real Estate Planning
Although it is tough to think about, death is a part of the circle of life. Estate planning organizes your personal affairs in case of an incapacitating event or your eventual passing. At Hamilton Faatz, PC, you can rely on the many years of mentoring, continuing legal education, and experience to address all your estate planning needs. Our counsel will often include conversations with your CPA, financial planner, and insurance broker for a holistic approach that makes sure every aspect is considered and a fully comprehensive plan is enacted.
Trusts are a common tool used to protect your assets for the benefit of your heirs. With a revocable trust – also known as a revocable or living trust – you can hold title to, and manage your assets while you’re still alive. A revocable trust also allows you to revise the trust as you wish, and usually avoids the costs and hassles of probate. We consider this planning up front to avoid future costs, a good investment. Trusts are popular because they are tools that may expedite the transfer of your assets to your heirs quicker than a will. They also provide great flexibility for particular family situations. With a trust we can completelytotally personalize your estate plan, addressing such concerns as occur in a blended family or business succession. You also have the ability to control the manner in which your assets are distributed to your heirs after your passing. For example, you can leave a trust instructing your assets to be distributed for your heirs’ education, housing, or medical costs.
Wills are legal documents that outline your final wishes upon passing. They include instructions on how your property and assets (including animalspets) are distributed, who you designate as the legal guardian for your minor children, how to handle pending debts, and any funeral wishes you may have. Having a Wwill in place helps ensure your loved ones respect your final wishes. A Will provides peace of mind and clarify for those you leave behind.
Living Wills and Advanced Directives
The ever-evolving way of life has created unprecedented risks. In the blink of an eye, a car accident or unusual virus like COVID can leave you without the ability to direct your own medical care. If you’ve planned ahead, living wills and advanced directives make your wishes known when you are unable to speak for yourself. Without these instruments, your loved ones may be forced to make hard decisions in an already emotional time. Even worse, they may be required to seek court assistance to get authority to make medical decisions on your behalf.
Powers of Attorney
In addition to advanced directives, we encourage our clients to obtain powers of attorneys for financial and medical matters. For example, you may wish to designate one person to deal with your financial matters and another person to deal with your medical treatment. While these powers are only valid during your lifetime, they are instrumental in addressing any issues that may surface in the event your incapacitated.
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