What is accomplished by "estate planning"? - Preparing a last will and testament
- Providing for the disposition of assets with a minimum of taxation
- Providing for the administration and disposition of assets during lifetime
- Decision-making in the event of a disabling illness
- Durable healthcare power of attorney-an alternate responsible for medical decision-making
- Durable financial power of attorney naming an agent and an alternate responsible for asset management, bill paying and other financial activities if one is unable to do such things for oneself
- Living will
- Living trust
What assets are included in my estate? - Home and other property
- Bank accounts
- Car(s)
- Value of life insurance policies
- Investments
- IRAs and other retirement accounts
There is no federal estate tax on estates valued at less than $650,000 and each year it is rising. State taxes vary. Why do you need an attorney?
Estate planning attorneys are specially trained and experienced in dealing with wills, trusts, powers of attorney, living wills, and estate taxation. Staci Cosner is a member of the National Academy of Elder Law Attorneys (NAELA). Click here to go to their website.
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.
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