Haws & Burke, PC Haws & Burke, PC - Law Firm & Attorney

Estate Planning

The price that your family pays financially and emotionally to handle your affairs without a Will can be much higher than paying for a well-prepared Will that meets your needs.

Although several websites offer templates for creating a Will and other legal documents, mistakes can be made while navigating questionnaires and forms that attempt to address variations in the law from state to state. Using a "one size fits all" approach could cause you to miss opportunities to save taxes or transfer assets more easily.

If you do not have a Will, a Court may decide who receives your assets and cares for your children. The Court may adopt a plan different from what you would have wanted or that your family would have preferred.

Your beneficiaries, other than your spouse, will have to pay inheritance tax on assets they receive from your estate. Your estate plan should give some thought as to how these taxes will be paid.

Estate planning involves much more than planning for the passage of assets in your estate. With the increasing life expectancy and the better health of older adults, the need for other documents has become even more important. Documents such as the following have become the cornerstone of a well-prepared estate plan: Living Will/Advanced Health Care Directive/Health Care Power of Attorney, Financial Durable Power of Attorney and a Medical Privacy Waiver.

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