When you pass away, everything that you separately own becomes your estate. Everyone should have a will to control what happens with those assets. Without one, the state determines who receives your assets when you die, regardless of your wishes. You also have no control over who is appointed to be in charge of your estate or who is appointed as guardian of your minor children. A simple will can alleviate these issues, as well as make the process of handling your estate faster, cheaper and easier. Kevin Hickey Law Partners can help you assess your needs, prepare a will that expresses your wishes and make sure that it is properly executed.
In addition to a will, it is recommended that everyone have a healthcare power of attorney and living will. These documents allow you to nominate someone to make medical decisions for you in the event that you are unable to do so yourself and also to state your wishes in the event that you are terminally ill and permanently unconscious. We are happy to assist you with these important documents as well.
While these basic documents should be considered the minimum that you have prepared, in many situations, additional estate planning can be advantageous. At Kevin Hickey Law Partners, we have the experience to handle not only basic estate planning but also more complex planning involving trusts, beneficiary deeds, limited liability companies and other estate planning tools.
Trusts, in particular, are a very powerful means of managing assets for beneficiaries, such as minor children, as well as for keeping estates from having to go through probate, which can save your beneficiaries thousands of dollars and countless hours of time. If your estate is large enough, a trust may even allow you to easily avoid a large estate tax bill.
Contact us to discuss your options and to determine the best fit for your loved ones and you.