The importance of estate planning is often overlooked. Developing a personalized estate plan is essential, especially if you have minor children, are in a blended family, own a small business, or have a domestic partner.
A comprehensive estate plan can reduce probate costs, eliminate confusion, and ensure your wishes are clearly communicated to your family and friends should you become incapacitated and when you die.
Covenant Law Group recommends clients prepare a comprehensive estate plan that consists of the following documents:
Last Will and Testament
Durable General Power of Attorney
Health Care Power of Attorney
A trust may be necessary to reduce your tax burden depending on the size of your estate. A trust may also be advisable if you: (1) have minor children or a child with special needs; (2) are in a blended family; or (3) have some other unique circumstance.
If you have an estate plan that is outdated or needs revisions, we can make the necessary changes through a “codicil,” which is an amendment to an existing will, or by preparing a revised estate plan.
Call us today to schedule a free consultation.