Estate planning is the process of establishing a plan to secure and distribute your assets in the event of your death or disability for the benefit of others such as family members, friends, or charities. This process involves a thorough analysis of your assets, your credit, your debts, your health, your family situation, and the effects of state and federal regulations.
Planning your estate will impact the financial security of those you love. If you fail to plan for what happens to your estate upon your death or disability, the government and court system will step in and make those decisions for you. A solid estate plan must cover all possibilities.
You should have an estate plan if you want to:
- Know who inherits your property;
- Minimize taxes upon your death,
- Provide for your spouse or partner,
- Provide for your children or other family members,
- Protect your assets from heartless creditors or greedy relatives,
- Have a specific health care treatment if rendered disabled;
- Keep your privacy.
After analyzing your assets and discussing your intentions, your attorney will help you plan your future by using instruments such as:
- A Last Will and Testament: a legal document by which a person, the testator, expresses their wishes as to how their property is to be distributed at death, and names one or more persons, the executor, to manage the estate until its final distribution (wikipedia);
- Durable Powers of Attorney: a written authorization to represent or act on another’s behalf in private affairs, business, or some other legal matter. The person authorizing the other to act is the principal, grantor, or donor of the power;
- Health Care Surrogate: an adult who is appointed to make healthcare decisions for you when you become unable to make them for yourself.
My job is to use these instruments and formulate a plan of action that will help you achieve your estate planning goals.
The Law Office of Shannon J Sagan utilizes a mix of experience in the areas of estate planning, probate, and personal injury law to service clients throughout Palm Beach County. The last thing you want your family to do when they are grieving is deal with court proceedings. My mission is to craft the most comprehensive and efficient estate plan to make sure your goals, your assets, and your loved ones are taken care of in the event of your departure of disability.