Elderly Estate Planning

Ensure that wishes are carried out! This is one of the important steps a person can make to ensure their estate, health care wishes, will, and finances are properly handled. The idea that relatives may one day be fighting over whether or not to pull life support or arguing over property division is a horrific thought. Do not procrastinate! It is even worse when there is no will and the state decides who gets what.

Don’t let the court control the estate. Estate planning is the answer! Contact our Elderly Estate Planning Lawyers for legal advice and help planning an estate, will, and trusts.

Elderly estate planning may involve one or more of the following:

  • Naming a Guardian
  • Making a Will
  • Creating a Living Will
  • Creating a Living Trust
  • Naming an Executor
  • Asset inventory
  • Durable power of attorney

A successful elderly estate planning transfer allows the family members to handle the estate properly when one is no longer able to make decisions for themselves. After the fact, it is a great idea to plan ahead of time for estate tax consequences. If not planned right, tax issues may leave just a portion of the estate to the family members.

Taxable elderly estate planning may include:

  • Home
  • Investments
  • Retirement savings
  • Life insurance policies

This is why a will or trust is so important! Make a will before it’s too late. After death, a legal will is a document that designates and divides the property, assets, and fulfills personal wishes. Making a will is not a difficult process, yet most Americans die without one. Without a will, the courts take control of the assets and distributes the estate according to the states laws. If there are no heirs apparent with the deceased’s will, then the state takes ownership of the property.

Don’t let the court control the estate. Estate planning is the answer! Contact our Elderly Estate Planning Lawyers legal advice and help planning an estate, will or trusts.

NOLODRUPAL-web3:DRU1.6.12.2.20161011.41205