WHERE THERE’S A WILL, THERE’S A WAY!

There are 3 documents your estate attorney should prepare for you and they’re not expensive.

• WILL & PROBATE – If you die without a will, the state determines who gets your assets. Probate is the process of distributing those assets which you owned alone at the time of your death. Are there special people you want to include or exclude from sharing in your estate? Who do you trust to administer your estate? When was your Will last updated? Has anyone in your family recently died? All of these issues should be addressed in your will and your estate plan.
  
  
• DURABLE POWER OF ATTORNEY – If you become incapacitated, e.g., with dementia or Alzheimer’s, no one will be authorized to manage your affairs if you don’t have a durable power of attorney. Without a power of attorney, a guardian may have to be appointed to handle your estate and that’s costly!
  
  
• HEALTH CARE POWER OF ATTORNEY – A living will is important. Do you want to stay on life support? Who should decide whether or not to pull the plug? Your estate lawyer can assist you in making those decisions.

CONSIDER THE FOLLOWING:

• JOINT BANK ACCOUNTS – There are dangers in putting a child or children on your bank accounts as joint owners with you.
  
  
• INHERITANCE TAX & PROBATE – You can limit or possibly avoid inheritance taxes & probate upon your death with sound estate planning. Gifting and certain trusts can reduce inheritance tax liability.
  
  
• NURSING HOME & MEDICAID– If you end up in a nursing home, you could lose all of your assets, including your home! You can protect yourself and your family if you plan for the future now and contact your estate lawyer.

THE FINAL WORD: YOU CAN’T TAKE IT WITH YOU! As your estate attorney, Jerome makes it easy to talk about Elder Law and your estate plan and financial affairs.