Put Your Assets in Good Hands
Documentation to protect your property and assets.
Rest assured that someone you trust will take care of your important decisions if you're not able to. As you get older, be prepared to protect your property and assets in any circumstance.
By filling out the appropriate documents, you can give someone you trust permission to take care of your affairs if you are ever not able to.
Assign the Smart Decisions
Appoint someone you trust to take care of your affairs in case you are not able to.
Who This Service is For
Creating a will, trust, or power of attorney is a smart choice for anyone, no matter what stage of life you may be in or how large your assets are at the moment. Everything you hold dear, even your very way of life, will be safeguarded by these legal documents. They will not only provide protection in case of your death, but in case you are living but unable to make your wishes clear. Protect yourself by putting a plan in place now that will clarify your wishes later.
Want to Learn More?
A Will is a legal document controlling what happens to a person’s property or dependents at death. Each state has formal requirements for a Will. These documents help you consider and clarify the following decisions:
- Who receives your property, and, if they are minors, at what age.
- Who should be named as guardians of minor children, and their duties include.
- Considering the inclusion of a trust for your spouse, children or others.
- Naming an executor.
- Saving taxes
Your will should be reviewed carefully to account for any change in circumstances or assets, including the death or change in beneficiaries of your estate.
While trusts serve a purpose in some circumstances, for most people with relatively modest estates, wills are quite adequate. They are generally less complicated and less expensive than a trust.
Both a will and a living trust contain your inheritance instructions: who gets what, when they get it, and how. Because a trust is not filed in court, its provisions are private, unlike a Will, which must be filed in court at death.
A revocable living trust is called a living trust because it's established while you're alive, revocable because, as long as you're mentally competent, you can change or dissolve the trust at any time at your own discretion for any reason. Typically, a living trust becomes irrevocable when you die.
A trust involves three parties: you as the creator, the trustee or trustees who agree to manage your assets as directed by the terms of the trust, and the beneficiaries.
If you want or need to have someone else manage your property and pay your bills in case of illness, the living trust is by far the best arrangement. One alternative is a probate court guardianship proceeding, which is public, costly and inconvenient. Another alternative is the power of attorney for property.
Power of Attorney
The person named as “attorney-in-fact” (doesn't have to be a lawyer) has power to act as your agent for whatever purposes are specified in the document that appoints them.
Some powers of attorney are limited in scope (signed deputy cards authorizing someone to write checks on your bank account or access to your safe deposit box). A general power of attorney, broadens power to manage your property and pay your bills. The agent could make gifts on your behalf, transfer your property to a living trust, or consent to medical or surgical procedures on your behalf, if these powers are specified.
Any person over the age of 18 may need a Power of Attorney. (Military personnel deploying overseas may need someone to act on their behalf should they become incapacitated.) Incapacity isn't the only reason you might need one, though. (Someone who travels a lot might set one up.) Most common time is retirement, elderly, or in a health crisis. However, it would be better to be prepared before the crisis.