Estate planning means making arrangements in case of your incapacity or death. Making an estate plan helps ensure that your wishes are followed and reduces the financial and emotional burden on your loved ones.
At the most basic level, estate planning involves completing an advanced healthcare directive (also known as a living will), a power of attorney, and a will. The advanced healthcare directive deals with your medical care while you are alive but incapacitated. The power of attorney nominates an agent to take care of your financial affairs. The will deals with the transfer of your assets after your death.
For those with special circumstances, trusts are often part of the estate plan. Trusts can be used to avoid having to go through probate, hold money for minor children until they reach adulthood, preserve public assistance for family members with special needs, to reduce estate taxes, and a number of other things.
The attorneys of ALG can assist you in creating your estate plan. Should it become necessary to file these documents in the Probate Court for the enforcement of their terms, ALG can guide you through that process.