Basic Estate Planning
Everyone can benefit from planning for the future, whether it
involves the distribution of property, tax reduction, or the care of
family members. Most estate plans include the following basic
documents:
Will -
A will enables you to control to whom and in what manner your
property will be distributed, and can be used to reduce estate
taxes.
Durable Power of Attorney - This is a document in which you grant
another person the power to carry out certain actions on your
behalf, even after you become incapacitated. This generally avoids
the time, trouble and expense of a court incompetency and
guardianship proceeding.
Health Care Power of Attorney - This document is similar to a
durable power of attorney, but it is limited to health care matters.
It takes effect if and when you become incapacitated and unable to
express your own decisions.
HIPAA Authorization Form
While not truly powers of attorney, Authorizations for Release of
Protected Health Care Information (HIPAA Authorizations) are
important so that your doctor can speak to your family members,
agents, trustees, etc. if you are unable to give consent at the
time.
Advance Directive (Living Will)
Advance Directives are also not powers of attorney, but are used to
state your wishes about the use of life-sustaining procedures in end
of life situation.
Note: Health Care Powers of Attorney and Advance Directives were
substantially changed in North Carolina effective October 1, 2007)
Living Trust - allows for the management of your assets during your
life, and provides that the trust assets will be distributed
directly to your chosen beneficiaries at your death, avoiding the
time, expense and publicity of probate
Please contact us today or call us at
800-201-0413
Email:
info@trustcounselpa.com
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