Estate plans are for all families irrespective of the size of the estate. Without an estate plan, the probate court oversees the administration of yours or a loved one's estate, which is both unnecessary and costly. Establishing an estate plan is simple, cost effective and brings peace of mind to you and your entire family.
The Insufficient Will.
A common misconception is that having a Will eliminates the probate court's involvement. The administration of a Will occurs in probate court and the court oversees the entire process. Wills are of public record and are costly to administer through the court. A proper estate plan eliminates the probate court's involvement.
Trusts - A Simple Clearing House.
Trusts are at the heart of every good estate plan. Trusts are flexible, adaptable and can be tailored to your goals and needs. A trust allows you to avoid probate court, have complete control over the distribution of inheritances and minimize taxes.
Advance Directives & Powers of Attorney
A proper estate plan also avoids probate court by eliminating the need for a guardianship over you when you are no longer capable of managing your financial and health care decisions during your lifetime. The financial durable power of attorney and health care power of attorney are only valid during your lifetime and only become effective when you need them.