The Lloyd Law Firm is here to help you with some of the most significant legal decisions of your life. Who gets your property when you pass away? Who may make health care decisions for you when you are unable to do so? Do you wish to be kept alive through artificial means? While these questions are difficult to consider, it is essential to create a plan for the future. A strong estate plan will minimize your tax liability, protect your assets, and give peace of mind to your loved ones. It is our practice to discuss your goals with your financial and/or tax advisor(s) to maximize the effectiveness of your estate plan. There are five major documents that we recommend you consider as part of any estate plan:
Your will provides a framework desire for the disposition of your property at your death
Revocable Trusts are legal instruments that arrange for property to be held for the benefit of a beneficiary. Trust instruments provide great flexibility to accommodate your specific needs and serve to minimize tax liability and claims of creditors. Revocable trusts can be created through a Will to provide for a transfer of property into trust at death
Power of Attorney
A power of attorney can be as broad or as limited as you desire. This document grants your attorney-in-fact the authority to act as your agent in real estate transactions, banking transactions, estate transactions, tax matters, insurance transactions, and many more.
Health Care Power of Attorney
A powerful document that appoints a chosen person(s) to make healthcare decisions in an emergency situation. This is en especially helpful tool for families with children because it gives parents the ability to designate someone that they trust to make medical decisions for their children in the event that the parents are inaccessible
Declaration of a Desire for a Natural Death
This purely optional document reflects your personal preferences regarding the prolonging of life through artificial means. The purpose of this document is to give peace of mind to your family members in making an incredibly difficult decision.