Avon Estate Planning Attorneys
Planning the Future For Your Loved Ones After You Are Gone
The estate planning process is often viewed as a complicated and overwhelming process that forces you to sit down and face your mortality. The act of ensuring your family members are well cared for after you pass will cause you to think about life when you are gone.
Estate planning does not have to be complicated. An experienced estate planning attorney can make this process easier for you. Our attorneys have seen what works and what doesn’t work and can advise you during this process. You can have peace of mind, enabling you to sleep easily, knowing that your wishes are being honored after you pass.
If you think it is time to start planning your estate, or you have been trying to do it for a while, and you’re not sure what to do next, call 440-530-9166 to schedule a free consultation with Hallett Legal Group, LLC.
Read more about how we help prepare our clients to navigate the important decisions everyone faces when planning their end-of-life wishes.
How May We Help You?
We provide thoughtful legal advice that will protect you and your family’s interests in the areas of estate planning and probate.
What is Estate Planning?
In simple words, estate planning controls how your wealth, assets, and health will be managed should you become incapacitated or pass away. Estate planning includes naming heirs who will inherit the assets you will give them. You also have the opportunity to plan the guardianship of your minor children.
This is your opportunity to create your advance directives, which outline how you would like care administered to you should you become incapacitated and unable to make decisions regarding your healthcare.
To die without a will is called dying “intestate.” When someone dies intestate, the probate court ensures that assets are equally divided between a person’s next of kin. Unfortunately, this may mean that unrelated loved ones do not receive anything, and relatives who have no relationship with the deceased receive a share.
What is an Advance Directive?
An important aspect of estate planning is an “advance directive.” This is a guide that your family and medical professionals will use to make important decisions regarding your healthcare should you be unable to make those decisions yourself.
Advance directives cover many medical aspects, such as care you would like to receive and care you want to avoid. Some people may want to deny blood transfusions for religious reasons, and an advance directive would instruct a healthcare provider to avoid doing so.
When creating an advance directive, you will assign someone to act as your healthcare attorney, someone who can make important decisions regarding your care when you are unable to.
It is important to outline your wishes in an advance directive. This is your opportunity to let future healthcare professionals know what treatments you are okay with and which ones you would like to avoid. This also allows you to take the pressure off of your family when they are unsure of what your wishes are.
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What is a Trust?
While creating your will, you may also wish to create a trust. A trust is a legal arrangement where one party, known as the trustor, gives another party, known as a trustee, the right to manage assets for a third party called a beneficiary. In most situations, the creator of the trust is the initial trustee. You can assign the people who you are confident to be the trustee when you are no longer the trustee. It is common for a beneficiary of the trust to also be your successor trustee.
Trusts help the estate planning process by controlling the distribution of assets, minimizing the taxes paid on your assets, and, when properly funded, avoiding probate. All of these benefits can lessen the stress of those we leave behind.
It is not necessary to create a trust when creating an estate plan, but it is an added layer of protection that guarantees your wealth is being distributed the way you intended and protects your family from further suffering.
Why Choose Us?
What is a Power of Attorney?
While you are living, you can assign someone to act on your behalf, giving them the power to make legal, financial, and medical decisions. This person has power of attorney regarding important decisions and is called your “agent.”
Your agent will be identified in your estate plan, along with the powers you are giving them. You can assign different people as agents with the ability to make different decisions. For example, you can give your wife your agent with the power to make medical decisions on your behalf but assign your business partner or an attorney as an agent who can make important financial decisions for you.
You can determine the reach of your agent’s power as well as how long their power lasts. You can determine if they maintain that power only while you are unable to make those important decisions or even after you recover and are of sound mind.
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Is Estate Planning Necessary?
There are many reasons a person may think that planning out the handling of their estate isn’t necessary. The reality is that everyone, regardless of their age or health, should plan for the day they are unable to make decisions regarding their health and estate.
Young, healthy people may believe they don’t need to plan because they aren’t financially secure or old enough. Younger people, especially those with children, need a will to determine who should care for their children in the event that both parents pass away.
People with a smaller estate may feel that they don’t need to plan for what happens after they pass away. But what happens if their family fights over what assets are left behind after they pass and there isn’t a will to outline their wishes?
Estate planning isn’t reserved for the wealthy, seniors, or the sick. It is a valuable method of ensuring your desires are honored after death.
Frequently Asked Questions
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