The Estate Planning Questions That We Get Asked The Most
We can all agree that the thought of death is unpleasant.
That being said, it is important to give your family the peace of mind that comes with a detailed estate plan.
To get you started down the right path, these are some of the most common estate planning questions that we get in our office.
1. What is probate?
When a loved one passes away, his or her estate may be required to proceed through a court process either called probate administration (with a will) or estate administration (without a will).
This process is very complex and technical. Learn more about this process here.
2. What is a trust?
A trust is traditionally used for minimizing estate taxes and can offer other benefits as part of a well-crafted estate plan. Learn more about the benefits of trusts here.
3. What is durable power of attorney?
A DPOA-Property allows you to appoint a person to act as your agent on your behalf with respect to your property and money matters. It can take effect immediately or in the future if you become disabled or incapacitated. Find more details for Powers of Attorney here.
4. What is a living will?
A living will is a document that allows you to explain your wishes regarding the medical procedures you want or don't want in the event that your health becomes critical. It applies when — and only when — you can't voice your own wishes. Read more about medical directive and living wills here.