Create a plan you can be confident in.
Estate Planning is the process of anticipating and arranging, during a person’s life, the management of a person’s property and affairs if the person becomes incapacitated or passes away. Although it is often impossible to predict when someone might become incapacitated or pass away, you can ease the stress and burden on your family by working with an estate planning attorney to craft a plan that will lay out your wishes.
The central components to an estate plan are typically:
- Last Will and Testament
- Medical Directive/Power of Attorney
- Power of Attorney
Depending on your particular situation, you may also consider a living trust, a testamentary trust, or other instruments.
These documents allow you to select who will be responsible for managing your estate, who will receive your property, who can make medical decisions on your behalf, as well as allowing you to identify guardians to watch over your minor children. A proper estate plan can also reduce the costs of administering an estate and reduce tax exposure, preserving as much of your family’s assets for future generations.
We understand that the topic of planning what happens when you pass is a difficult conversation to have. This is likely why recent surveys have found that two-thirds of adults do not have a Last Will and Testament. The Law Offices of Andrew P. Gross is here to foster those delicate conversations and ease the stress of estate planning.