While a will is a good estate planning tool, and probably the one the general public is most familiar with, it may not necessarily be the best option for you. Depending on your situation, a trust may be a better fit for your goals.
Simply put, a trust is a legal entity that houses your assets. When you create a trust, you name “trustees” — yourself, your spouse, trusted legal or financial advisor, or a neutral third party — to manage the trust and direct the use of assets within it. You as an individual legally no longer own any assets placed into a trust.
That may sound scary, but it can be beneficial in protecting your estate if a trust suits your goals and is a good fit for your estate plan.
There are many types of trusts, and many steps that should be taken along with establishing a trust. So it’s important to consult an attorney experienced in trusts and estate planning. You can rely on your Dozier Miller team to create a legally sound and effective trust, and to give you sound advice on managing it.
If you haven’t expressed your wishes for the distribution of your property ahead of time, the state courts will be in charge of determining how to split up your estate. By creating a will, you can make the process smoother for your loved ones and give yourself peace of mind that your wishes are carried out.
Death and taxes are often said to be the two great certainties in the world, but they’re also two things we least like to think about. Thankfully, there are steps you can take to shelter your family and loved ones from stressful tax issues upon your passing.
A health care power of attorney allows you to select an “agent” to make decisions about your health care if you can no longer speak for yourself. Your agent should be someone you trust with making important, sometimes life-or-death, decisions for you.
In the event you lose the ability to make health care decisions for yourself, how do you make sure your wishes are known and honored? Through advance directives, you can outline the types of medical treatments you do and do not want.
Fill this form out to schedule an initial legal consultation. The attorneys at Dozier Miller Law Group value taking the time to thoroughly discuss your unique legal challenges. Our lawyers represent many areas of expertise, but if we don’t have the service you need, we’ll help you find an expert whose skills match your situation.