Estate planning

Is never a bad idea to be prepared for the unexpected. You may not be disabled, but it is best to be prepared for an unexpected health emergency, or to prepare for your eventual passing. Scott Disability Law can help.

What is Estate Planning?

Estate planning is an arrangement the use, conversation and transfer of property during lifetime and on death, often through the creation of documents to change what would happen under state law if the documents did not exist. These documents include a will, power of attorney, and advanced healthcare directives.

The Importance of Planning Now

Prepare for significant, lift-altering events and prevent the future from being left to chance. Estate planning preserves intergenerational wealth, assists families making difficult decisions on their loved one’s behalf, and creates the room for families to have conversations about what happens next.

What is a will?

A will is a basic instrument for passing property a death. This includes real estate, money, and money, and can also include specific items identified by the person making the will.

What is a trust?

A trust is a legal arrangement to ensure assets go to specific beneficiaries. Some types of trusts include testamentary trusts (a trust created by a will), revocable living trust (a legal document that lets you manage and distribute your assets according to your wishes), an irrevocable trust (a legal document where you relinquish control over the assists placed in the trust), and a special needs trust (a trust specifically designed for the disabled).

What is a Financial Power of Attorney?

A financial power of attorney is a document that allows for a named agent to manage all aspects of a person’s finances, including the ability to sell the person’s home, access ban accounts, manage income, and pay bills, when the person is no longer able to do so independently.

What is a Healthcare Power of Attorney?

A healthcare power of attorney is a document that allows for a named agent to make healthcare decisions for a person when a person is no longer able to do so independently.

What is a Living Will?

A living will is a document that outlines your preferences for medical care in situations where you cannot communicate your wishes due to a serious medical condition.