Our experienced team will help build an estate plan so that your property is transferred to your loved ones.
Estate planning assists with the transfer of an individual’s estate once they pass, including real estate, bank accounts, securities, automobiles, and other personal property.
What Estate Planning and Probate Involves
One of the most important, yet often neglected, areas of law that might have the greatest impact upon you or your loved ones involves estate planning. In general, estate planning covers the following topics:
- Wills: Wills set who inherits your property and often appoints a guardian for minor children.
- Trusts: A trust is an arrangement by which payments or property is distributed to a beneficiary according to the terms of the trust. (Revocable, ILIT, QTIP, Special Needs Trusts, etc).
- Medical Durable Power of Attorney (patient advocate designations), including end-of-life decisions
- Durable Power of Attorneys for Financial Decisions: Financial power of attorney appoints a third party to handle an individual’s finances when they can no longer take care of their own financial affairs.
- Guardianship and Conservatorship
- Special Needs Planning: Planning for Children and Adults with Disabilities
Many people mistakenly believe that if they or a loved one should suddenly die or become incapacitated due to illness or accident that another family member automatically steps in and takes control. That may not necessarily be true. Unless you have planned ahead and taken the necessary steps for continuing asset management, the probate courts will decide who is in charge and the person chosen by the court may not be the person you want to take over.
When to Plan
The answer is simple – NOW. Waiting for another day or time is easy – especially when your health is good, the future looks bright, and there are many other “pressing” tasks to be done. Unfortunately, none of us can predict the future. What will happen to your spouse or child if something unexpected happens to you? ACT NOW – and know that you have done everything you could for your loved one’s future.
Foley Law Offices has experienced lawyers in estate planning and probate litigation that many prefer to avoid. We’re not some guy on a TV commercial that’s never going to see your case or some big firm where you’re just another number. We’re a father and son who get to know our clients and give you unrivaled expertise. That’s our specialty. We’ll do right by you with integrity and quality.
For more information about Estate Planning & Probate, or to schedule an appointment, contact Foley Law Offices, PLLC at (734) 462-7500.