What You Need
Someone who can listen to you, understand your estate planning goals, help you frame the issues and develop and implement a plan.
“During my life I want to provide for myself and my loved ones if I become mentally incapacitated, and at my death I want to give what I own to whom I want, when I want, in the form that I choose them to receive it, and all at the lowest possible cost to me and my family.”
A legal document that expresses a person’s final wishes regarding the disposition of their estate assets and the care of their dependents by appointing someone to carry out those wishes under court supervision. The primary functions of a Will are to pay final expenses, dispose of estate assets in an orderly fashion, and appoint a caregiver for minor children/dependents.
A fiduciary relationship with respect to property in which one person transfers legal title to property to another person who has a fiduciary duty to hold, protect and manage that property for the lifetime use of another person followed by the outright ownership of another person. Trusts can be categorized as Living or Testamentary and Revocable or Irrevocable:
A legal document that allows a person to appoint another person with certain powers to make non-medical decisions for them in the event that they become incapacitated or otherwise unable or unavailable to do so themselves. Powers of Attorney can categorize as General vs. Limited, Hanging vs. Springing, or Durable vs. Non-Durable:
The primary documents that allow one to plan for their incapacity during life:
A feature on certain types of assets (e.g., retirement accounts, life insurance policies, bank and brokerage accounts) that allow one to transfer those assets directly to another individual at death. These designations typically supersede what is stated in a will or trust, so it is important to review all beneficiary designations regularly to ensure harmony with one’s overall estate plan.
Little House Capital will work with you and your attorney, or coordinate with qualified outside attorneys, if necessary, to help ensure that your estate planning needs are met.
The information provide herein is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any federal tax penalties. You are encouraged to seek tax and legal advice from your professional advisors. Legal information is not legal advice, and information may not constitute the most up-to-date legal or other information. You should always consult with qualified legal counsel prior to implementing any personal estate planning. Little House Capital, LLC does not provide legal advice or legal services.