All of us will die, so have you planned for how you want to care for those you love and what happens to your property when you die?
- If you have a spouse, have you taken care of your spouse by having a will and/or a trust in place?
- If you have children under the age of eighteen (18), have you named a guardian and provided for the child’s financial well-being?
- If you have a loved one who is disabled, have you planned how you can help them during your lifetime or after your death?
- If you have a life partner, have you put estate planning documents in place to take care of that special person?
- Do you know whether or not estate or inheritance taxes will be owed by the loved one to whom you leave your property? If so, do you know how the taxes will be paid?
- If you have a special pet, do you want to take care of the pet after your death?
- If you wish to leave money or property to a religious or other charitable organization, have you done so?
You need to take the steps necessary to implement your plans by having the right legal documentation for your plans and keep it up-to-date. You will have options, depending upon your goals.
- Special needs trusts
- Beneficiary designations
Madeleine can help you understand which legal documents will assist and protect you. She will listen to your plans and needs, then draft the documents for you.