ESTATE PLANNING ATTORNEY

What Is Estate Planning?

Estate Planning is the process of preparing a comprehensive plan for the events and contingencies that may occur during the remainder of your life and for the orderly and efficient distribution of your estate after your death. This process typically involves meeting with an attorney to discuss your needs and desires and to determine what is the correct plan for you.

Personalized Attorney Consultation

As no two people are alike, a plan should be designed for your specific circumstances. “Boilerplate” or “template” wills and trusts are generally not specific enough except in the most limited circumstances. MacDonald & Associates does not charge for this initial consultation. You will be charged only after the Estate plan is completed and signed.

Types of Estate Planning Documents

After your meeting with the attorney, the attorney will prepare drafts of the necessary documents to create your specific “estate plan”. These documents typically include a Revocable Living Trust, a Certificate of Trust, a Last Will and Testament, sometimes referred to as a “Pour-Over Will”, a Springing Power of Attorney and General Power of Attorney for Health Care, a Living Will or Advanced Directive, along with other documents intended to carry out the intent of your plan.

Estate Planning Process

Once you have had a chance to review these documents and make any necessary corrections and/or revisions, you will meet with the Attorney and his staff to sign or “execute” the estate plan. Once that is accomplished, the final step in the process is to fund the Trust, or, in other words, transfer your assets into the Trust. This is often times the most important and most overlooked step in the process. If the Trust is created but never funded, your estate may end up in Probate even though a major goal of the estate planning process is probate avoidance.

The process of preparing a comprehensive plan for the events and contingencies that may occur during the remainder of your life and for the orderly and efficient distribution of your estate after your death.