Estate planning involves the will, living wills and trusts, beneficiary designations, powers of appointment, property ownership, gifts, and powers of attorney, specifically the durable financial power of attorney and the durable medical power of attorney. Specific final arrangements, such as whether to be buried or cremated are also often part of the estate planning process. More sophisticated estate plans may also cover deferring or decreasing estate taxes or winding up a business.
Should I hire a lawyer? Estate planning is a very complex and detailed process that needs to be handled by an attorney with experience in these matters. The structure and filing requirements are many and the potential of having your estate wind up in probate can be extremely detrimental to your surviving family members. Contact us for a consultation if you need representation in this area.