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FAQ

You ask. We answer!

Do you need help with protecting your assets or estate?

I don’t have much in terms of assets, do I need to have a will?

Yes. Wills are not just a way to distribute assets but also to determine who will administer your estate and who will take care of your children. In addition, once a will is created, you won’t have to worry about the distribution of assets unless your situation changes (in which case, a will can in most cases be changed).

Do I only need a will for my estate planning?

No. Trusts, powers of attorneys, and proxies may also be needed depending on your individual situation.

How do you know what I need for proper estate planning?

I will have a private consultation with you and your significant other(s). During the consultation, your situation and needs will be discussed and we will formulate a plan for your estate as well as how to protect your assets.

Why are trusts necessary?

Trusts provide flexibility for the distribution of assets. They also protect assets from being depleted if you ever require home health care and/or nursing home care as well as protect your estate from taxes.

What’s the difference between a trust and a will?

A trust applies predominantly while a person is alive while a will applies upon an individual’s death. (Although, trusts may also be applicable after a person’s death in certain cases.)

Will the powers of attorneys accomplish the same thing as trusts or wills?

No. First, powers of attorneys end when a person dies, while wills and trusts (in many cases) do not end when a person dies. Second, powers of attorneys don’t offer the same protection against your depletion of assets as wills and trusts do.

What risks will I face if I don’t do proper estate planning?

Your biggest risk is that all or a large portion of your assets may be lost to you and/or your heirs. You earned these assets, you and your heirs should be able to keep them!

Is Medicaid/Medicare planning part of estate planning?

Yes, Medicaid/Medicare planning is a significant part of estate planning in order to make sure your assets are not lost if you need home healthcare and/or nursing home care.

Does my estate planning need to be updated periodically?

Yes, in particular if your situation changes. My office will be in touch with you periodically to make sure the correct estate planning tools are in place.

How long have you been practicing estate law?

35 years and counting.