You took control in life.Why stop now?™

The law anticipates that you will not have a plan for your estate when you die, and therefore has its own family-tree-based formula ready to apply for you.

If you die without a Will or a trust, your state’s laws will by default be applied and determine who inherits your estate. Your beneficiaries will be based on a family-tree-like formula. Any non-married partners or children that are not legally yours or friends or charities you intended to recognize will not be recognized. The court will not entertain testimony as to who you were close to or what you might have wanted.  If you have intentions as to you estate, you can easily make them enforceable, but do so with a written Will or trust.

Whether you are single, married, partnered with a non-spouse, divorced, or an adult in any phase of life, it is arguably always better to have at least a simple Will in place so you control how and to whom your estate is distributed.

Taking this step not only allows you to control your estate and recognize those beneficiaries who are important you but relieves your loved ones from having to wonder and potentially argue over what your intentions would have been.

A Last Will & Testament or “Will” is a powerful legal document. It allows you to set forth your intentions in a binding legal document as to how and to whom your estate (i.e. property and assets) will be distributed upon your death, and who you wish to be appointed as your Executor or Personal Representative (i.e. the person who will “step into your shoes” to be sure your wishes are followed). A Will is subject to the probate court process. With a Will, you maintain ownership of your property and assets until death.

There are many types of trusts. A revocable living trust is a legal document which, like a Will, also allows you to set forth your intentions in a binding legal document how and to whom your estate (i.e. property and assets) will be distributed upon your death, and to appoint a Trustee. However, with a revocable living trust you generally “fund the trust” or transfer the applicable property and assets into the trust during your lifetime (in which case the trust becomes the owner). With a trust one of the goals is to avoid probate court, albeit you will generally have a “pour-over Will” meaning that if any property or assets were not owned by the Trust at the time of death, the Will will serve to direct them back into the trust.

Each option has its pros and cons, depending on your goals and estate.

Yes. Even with a trust, a “pour-over Will” ensures that any assets not already transferred to the trust are directed there upon your death.

If nothing else, quickly review all names (i.e. beneficiaries, Personal Representative, trustee, or guardian) in your Will, trust, estate planning documents, and all beneficiary designations (i.e. insurance, investment accounts, etc.) at least once each year. Changes in relationships or status such as divorce, death, coming of age, loss of capacity, or a falling-out can render a once suitable party no longer an appropriate choice.

Clients who conduct this annual review are often surprised at how much relationship changes in the prior year (i.e. a named Guardian moved, a parent has lost capacity, a beneficiary has married a spouse they don’t approve of) may impact their documents.

Consider updating your estate planning documents whenever a significant life event occurs which impacts the terms of your current Will or trust: marriage, divorce, birth of a child, death of a beneficiary, major asset acquisition or sale, relocation to a new state, or a change in tax law.

If you have an existing Will, do not hand-write, white-out, or put a stickie-note on it to edit it or note a change. You must document any changes with a legally binding Will-signing ceremony.

While estate planning documents are drafted to last for years and anticipate changes in assets and relationships, having updated documents that expressly state your current intentions is the most secure way to ensure accuracy in the distribution of your estate.

A power of attorney is a legal document that designates someone to make decisions on your behalf if you become incapacitated. A financial power of attorney covers financial and legal matters. A healthcare power of attorney allows someone to make medical decisions for you.

Please contact us for a complimentary review of your specific facts as fees are customized to each client’s case.

In general, we try to bill on a Flat Fee basis for every legal matter. A Flat Fee is a one-time total fee for all actions required for that legal matter. This provides the client with predictability and control. The Flat Fee includes our popular “Unlimited Pass™” of communication between attorney and client in all mediums to be sure the client understands the legal process and can ask questions, and take as much time as is needed to understand and be educated on their matter.

Wills are generally billed on a Flat Fee basis. For a Will, such a Flat Fee would includes reviewing any prior estate-planning documents, gathering comprehensive information as to your goals and intensions for your estate, and then drafting your Last Will & Testament, reviewing it with you, and overseeing a Will-signing ceremony with a notary and witnesses. It would also include our popular DREAMCOUNSEL® “Road Map” which is a document which prompts you to share practical and logistical information which will help your Personal Representative to locate items and ensure your wishes are followed.

If you and your spouse are both seeking to complete your Wills, we have a special Flat Fee rate for that scenario.

If you only need to amend an existing Will (called a “Codicil”) we have special Flat Fee rates for that action as well.

If a Flat Fee is not possible, then an hourly rate will be applied, and we will discuss a projected budget.

We would love to chat with you about how we might work together to accomplish your goals within your budget.