Estate planning, or the lack thereof, can have a significant impact on the lives of those one loves the most. It is always advisable to speak with a seasoned estate planning lawyer who can craft an ideal estate plan to protect the individual and the family.
Does Everyone Need an Estate Planning Lawyer?
Although it may be tempting for an individual to draft a will or another estate planning document without the advice of an attorney, there are multiple reasons why retaining a lawyer to aid in this process is in the best interests of the individual. Even a simple incorrect word or phrase could drastically alter the outcome of the will. The estate planning lawyers at Berman Voss will ensure that the estate planning documents are valid, enforceable, and provide the most favorable outcome to the individual and family.
Key Estate Planning Documents
Berman Voss is experienced with handling a wide array of critical estate planning documents on behalf of its clients. Some of the most common estate planning documents are as follows:
- Wills: Every individual should draft a comprehensive will in one’s lifetime. When drafting a will, it essentially leaves a set of clear instructions regarding how the individual would like assets to be distributed upon that person’s passing. In a will, one can appoint beneficiaries (the people who will receive the assets), as well as an executor (the person who will oversee the distribution of one’s assets and ensure that the individual’s will is carried out as it was intended). Parents can also establish guardianship for minor children in wills, wherein they will appoint guardians who they trust to raise their children, should they be unable to do so themselves for one reason or another.
- Trusts: There are several types of trusts available, and the type of trust that is best for the individual depends on who the individual is and what the goals are with the trust. In most cases, people will create trusts, such as a revocable living trust, so that their assets can avoid the probate process upon their passing, thereby saving the family both time and money.
- Powers of Attorney: There are several types of powers of attorney, including healthcare powers of attorney and financial powers of attorney. Essentially, a power of attorney allows one to appoint a trusted individual to manage one’s finances, healthcare, etc., should the individual ever become incapacitated and unable to manage those items.
Quite simply, the goal of the Estate Planning attorneys at Berman Voss is to provide the client with the peace of mind needed to focus on what matters most in life.