A Road Map For The Path Of Estate Planning
If people thought of estate planning as a simple, enjoyable process, people would be rushing to have their estate plans established by the time they reached their early 20s. But most people think of estate planning as a uniquely complex, challenging endeavor. They either wait too long or they take the easy route of using an online do-it-yourself form that often results in errors in their planning or final wishes.
No two persons’ circumstances are exactly alike. The process of making a lifetime plan is a very individualized and personal process. You should know that, with the help of a legal team you trust, creating an effective estate plan is not nearly as difficult as you might think
We can help you. At Severns & Howard, P.C., we combine decades of experience with a strong commitment to helping our clients obtain their estate planning goals. Known as “The Pathfinders of Elder Law,” our legal team helps our clients find their paths in estate planning or response team building, asset protection, and long term care planning. We will serve as a guidepost through the process, helping you understand your options and make smart decisions for your future. We are a Carmel law firm serving clients throughout Indiana.
Creating A Comprehensive Estate Plan And Building Your Response Team
The value of our attorneys’ knowledge and experience is that we can help you integrate all of the essential estate planning instruments into one coherent, unified plan and designating trusted persons as your response team. By planning in advance, you can prepare yourself for contingencies and consequences of living a long time by building your “Response Team.” Our lawyers can help you create a plan that includes:
- Wills and trusts: These are the foundational documents that allow you to indicate who will receive your assets after you die. A trust allows you to indicate who you wish to receive your assets, as well as leave particular instructions for the use of those assets and allow for a trustee to manage the assets.
- General Durable Power of Attorney: A power of attorney is a document by which you give one or more people the authority to handle financial transactions on your behalf, even if you later become incompetent.
- Living Will and Health Power of Attorney: These documents are for advance health care directives and to give one or more people the authority to receive medical information and handle medical decisions in the event that you are incapacitated or unable to speak for yourself. These documents are often combined into one document.
Asset Protection And Long Term Care Planning
Proper estate planning not only puts you in charge of your finances, it can also spare your loved ones the expense, delay, and frustration associated with managing your affairs when you become disabled or pass away.
Planning ahead and making a lifetime plan can allow for your accumulated assets to be protected from being spent on long term care costs and allows for your loved one to ensure the continuity of your care based on your desires. While some government programs offer assistance, many find themselves faced with choices they thought they would never encounter in their lifetimes. With proper planning, assets can be protected.
These are simply high-level explanations of the most basic and essential estate planning documents. Our attorneys will sit down with you, create spreadsheets of your finances to ensure that you we create an overview of your income, expenses, and assets, and help you utilize the right estate planning tools to achieve your goals
Contact Our Team
A combination of legal and financial planning ensures that wherever life’s path takes you, it will be on your terms. If you have assets that you’d like protected from future nursing home or other such costs, please call one of our elder law attorneys to meet with you to assist in maximizing your protection possibilities.
Our attorneys will spend time with you to review your individual concerns and expectations, as well as guide and advise you about your best legal options. Call us at 1-800-335-3971 or contact us online.