Estate planning is the process of deciding what happens to you, your family and your property when you die or become disabled.
More broadly, it is a lifetime’s series of decisions about gaining, using and disposing of your personal property, real estate, investments, cash, life insurance, business interests.
You spend a lot of time, energy and money accumulating your estate. You want to protect it and ensure it survives you for the benefit of others—your family, community, charity, church. You don’t want to pay unnecessary expenses or have assets be unavailable when needed, nor do you want the state laws to decide who gets what. You want the security of knowing the health, security and welfare of your loved ones will be taken care of after you are gone.
Creating an estate plan requires first and foremost an evaluation of what you own and how you own it. It is then possible to decide what documents you need. While many people consider a will to be the cornerstone of their estate plan, even more important is a letter of instruction that outlines your plan and the documents that form it.
Here is a list of documents that may be used as part of their estate plan. Click on each one for additional information:
Living Will/Health Care Power of Attorney
Durable and Specific Powers of Attorney
At NOSTRANDLAW, we can advise you on creating the proper documents for your estate plan. We will take the time to understand your unique needs and then prepare the necessary legal documents to secure your future.