We at VcourTs believe in integrity and delivering secured life planning to our clientele, Estate planning is our major forte and we bring smiles in making life easier.Covid pandemic has changed our lives in many ways and Estate Planning is an important aspect which needs careful thought during these uncertain times.
Fundamentals of Estate Planning
- Estate planning is an important aspect which can help protect your family and keep them safe and secure. In order to do this, you need to clear the fundamentals of documentation in estate planning.There are six essential pointers that you need to do when understanding the complexity of such estate planning.Our Estate Planning Attorney will guide you
- Living or Revocable Trust: You can manage your assets through a revocable trust that holds the assets for your benefit at the time when you are alive, and distributes the assets to your people when you die. You can work with such trusts that simplify probates and plan for any incapacity. You can ask for funeral services as well in such will so that you get the last rites as you wish.
- Personal Property Memorandum: You can gift your personal property that is tangible such as Jewelry, furniture, artwork or anything that is tangible which cannot be covered in the will. The only thing to remember is that a personal property memorandum is not as formal as a will and therefore it can be changed as per your desire at any time.
- Power of Attorney, Healthcare Proxy or Agent : It is a document that can help appoint a person of trust to take decisions related to medical matters on your behalf when it is not possible for you. It gives the rights automatically to the medical records which are otherwise personal and not accessible. However, there are some institutions which require extra information and documentation to get full access to their medical records.
- Living Will: You may not need the person who is named in your healthcare proxy to take decisions when you are living. In such cases you can make a living will where you can express an end of life wish and not go to the health care proxy person. The reason for a living will is simple, if you need a ventilator or feeding tube or a resuscitation in any case
- Probate: Its a process courts use to enforce a Will and deal with any disputes with respecto the descendant's estate.If a person dies without a will it often ends up with a lengthy and expensive probate process.