Kennewick Estate Planning Lawyers
All adults should have an estate plan. It does not matter if you are single, married, younger, or older. Even having a will alone will turn your plans into legal documents into the legacy you leave behind. While having a will is important, it is also not the only estate planning document that can help you create a cohesive plan while protecting your assets and your loved ones. Below, our Kennewick estate planning lawyer outlines some of the most important documents to include in your plan.
Last Will and Testament
A last will and testament has many purposes. You can stipulate that certain property should go to certain individuals or charities after you pass away. You can also appoint someone as the guardian of your children. A will can also name your personal representative. The personal representative will administer your estate. Without a will, state law will dictate what will happen to your assets and children.
Under certain circumstances, a will can be challenged in court. If the challenge is successful, it can prevent the will from being probated, which means it will not go into effect. When working with a Kennewick estate planning lawyer, the chances of a will challenge happening or being successful are far reduced.
Trusts
Trusts are legal documents that allow you to set assets for the benefit of your heirs or for yourself. The trustee, or the person responsible for administering the trust, must follow the instructions you leave as closely as possible. You can also draft a trust and fund it during your lifetime.
Trusts have many benefits, including protecting your assets while you are still alive. A trust is also very beneficial if you want to leave assets or funds behind to an heir who cannot manage money very well. The heir may be disabled, too young, or have a substance abuse problem. There are also many different types of trusts available and they all have different purposes, advantages, and drawbacks. A Kennewick estate planning lawyer can help you determine which type of trust to create, and ensure it will meet your needs.
Powers of Attorney
A power of attorney allows another person to make decisions on your behalf in the event you become incapacitated and cannot make them for yourself. Mostly, powers of attorney are used for financial and healthcare matters. For example, if you survived a terrible car accident and were permanently disabled, you would still have to pay your mortgage or rent, utility bills, and other expenses. A power of attorney gives someone else the authority to take care of these matters on your behalf.
Our Estate Planning Lawyer in Kennewick Can Help You Create the Most Important Documents
At Moulton Law Offices, P.S., our Kennewick estate planning lawyer can provide you with the help you need when developing a comprehensive plan. Whether your plan is fairly simple or quite complex, we can help with all of your needs and ensure you and your loved ones are protected. Call us now at 1-509-328-2150 #9090 or contact us online to schedule an appointment with our attorney and to learn more.
