Estate Planning Documents
Estate planning is an important process that is utilized by individuals to prepare for the distribution of an estate upon the time of their passing. Many people have had experiences with some form of estate planning, whether a will or trust, special arrangements for your family for asset protection, guardianship and more. Estate planning essentially serves to increase the value of an estate through tax reduction while also providing an organized approach to the administration of assets such as real estate, investments and other valuable items upon the death of the individual. A reputable estate planning attorney from the firm can help to make sense of all matters regarding your estate and can save substantial headaches and financial hardships in the future.
Common Documents in the Estate Planning Process
There are a variety of documents that may play a role in any estate planning scenario. Perhaps the most common, a last will and testament is designed to safely transfer real estate and other valuable assets to the appropriate parties. This differs from living wills which seek to provide instruction for healthcare professionals in the event that you are unable to make informed consent. A durable power of attorney, also known as
advance directives, serves to appoint a specific person to make important decisions regarding your medical care when you cannot. Durable power of attorney can also refer to property, and appoints a specific person to make financial decisions in the absence of the individual.
Trusts are also common and allow the means for an individual to manage their estate while also naming successor trustees who can assume the responsibilities of the trust if you can no longer fulfill the duties. Since trusts are an established legal document, they are an excellent way to ease the probate process.
Do you need experienced legal counsel?
Wollman, Gehrke & Solomon, P.A. is an established estate planning law firm serving Naples,
Bonita Springs areas in estate matters such as trusts, wills, advance directives, guardianship and much more. The firm has over 60 years of combined experience in formulating successful strategies to help clients maintain a sense of control over the distribution of their estate throughout life and even in death. Protecting the assets you have attained is one of the most important processes a person can engage in, and Wollman, Gehrke & Solomon, P.A. can provide much-needed guidance and understanding in any estate planning scenario.