What is estate planning?
Estate planning is the process of planning for two events: Death and Incapacity. Planning for the event of incapacity involves determining who will make decisions for you in the event that you cannot make decisions for yourself due to illness or injury and results in building durable financial and medical powers of attorney and living wills. Planning for the event of death involves setting up a will, testamentary trust or revocable living trust, which depends upon and is based upon on the assets you have, who you want to receive your assets, and whether you want your property to go through probate.
What estate planning documents will be drafted for me?
At a minimum, we will draft a will, medical and financial powers of attorney, and a living will. Additionally, we may draft either a testamentary trust or a revocable living trust and other corresponding trust documents.
How often should I review and/or revise my estate plan?
You should review and/or revise your estate plan at least every 3 to 5 years, when there is a major life event/change (i.e. marriage, divorce, having children, etc.), or when something happens to the people you name in your documents (i.e. death, falling out, etc.).