Wills, Trusts, and Estate Planning
Unfortunately, no one lives forever.
However, that does not mean that you cannot leave a legacy for your loved ones. With the proper use of estate planning documents such as Wills, Health Care Instructions, Trusts and Powers of Attorney you can protect your rights. You have the right to decide how your property is divided upon your death.
You also can decide how you will be dealt with by medical professionals if you become incapacitated. Too often people become ill and do not have proper legal protection. Therefore, it is essential to have your estate documents created as soon as possible and updated often. Whether you need to determine the benefits of a revocable vs irrevocable trust or just assistance with a matter at a CT Probate Court.
Probate administration fees can be expensive and timely. Appropriate estate planning can eliminate many costs associated with the Probate Court system. If your documents are more than five years old, you do not have any estate planning documents, or you just wish to discuss your options, contact Allinson & Associates, LLC for professional estate planning advice to protect your rights and assets.
Additionally, you may need to protect your assets for your loved ones through a trust. There are many types of trusts, irrevocable, revocable, special needs, and spendthrift to name a few. Additionally, you may be just the person to benefit from a specific real estate trust, firearms trust or 2nd amendment trust. Whether it is protection from the IRS, the BATF, or asset management, do not wait to contact us.
A Will is a legal document that allows you to plan how to distribute your assets after you pass away. Within the Will, you are able to name an executor, who is appointed by you to manage your affairs after you pass. Additionally, you can state exactly how you wish your assets to be managed after you pass.
It is especially important to have a Will in place if you have children under the age of 18. Without proper planning, your children may not be protected and may lose some of their inheritance. Do not risk these costs and call us today.
A trust is a legal entity created under the IRS tax code. All trusts require a grantor (the person who creates it), a beneficiary (the person/entity for whom the trust exists), a trustee (the manager) and the corpus (assets of the trust). In creating a trust, there are several types such as:
Pre-Needs Funeral Trusts
Spendthrift Real Estate
2nd Amendment Trusts
Depending on your goals and situation, one trust may be better than another or, you may not even need a trust. Call us today to discuss the benefits and risks of having a trust.
Power of Attorney
A Power of Attorney is a legal document in which you give legal authority to a person(s), known as an ‘agent’, such as spouse or other loved one, to make legal and financial decisions for you while you are living.
When choosing a power of attorney, it is important to choose someone you trust in order to ensure that financial and legal decisions are made properly on your behalf, as it is a very powerful document. The wrong choices can be very costly. Call us today for help.
Designation of Conservator
A Designation of Conservator is a document that plays a part in estate planning. A conservator is a court appointed individual to make decisions on your behalf if you are mentally unable to do so. With this document, you are able to appoint someone as your conservator in the event that you are mentally unable to make your own medical and/or financial decisions. If you have a Designation of Conservator, the court will not appoint a stranger as your conservator and instead, you are able to have someone you trust. Please call us today so we can help.
Appointment of Healthcare Agent
A Healthcare agent is the individual referenced in your documents that is authorized to make healthcare decisions when you are unable to do so. Often, the doctors will look to you Healthcare agent for a decision to make sure your wishes are followed. Call us today so we can protect your decisions.
Living Will / Healthcare Instructions
A Living Will, sometimes known as an advance directive or healthcare instructions, is a written legal document that states your medical wishes when you are unable to do so yourself. Having a Living Will in place helps you to plan ahead to receive the medical care you want when you are unable to speak for yourself. This document helps our loved ones make the tough decisions when we are on life support, terminally ill, or otherwise in need of end of life decisions. Call us today and protect your rights.
In some cases, Connecticut law allows individuals to specify burial instructions and even what happens with the body after death. Often, this occurs when someone wishes to have their body donated to scientific or medical research. Other times, these instructions can be used to specify a burial location that is most often in another country. Regardless of your last wishes, our law firm can create the documents to ensure your wishes are followed.
While not always necessary, Connecticut Law allows the Probate Court to enforce certain funeral instructions to help your loved ones effectuate your wishes. Often this is done when someone wishes to donate his/her remains to science. Additionally, many folks have requirements regarding where they would prefer to be buried, if at all. No matter what your wishes are, we can make sure that your wishes are made known and followed. Call us today to discuss the best way to protect your rights.