Simply put, estate planning is the process of setting up a plan that ensures your intentions regarding the management of your assets, the care of your family, and your health care decisions are honored during your life and after your death. A “basic” comprehensive estate plan typically consists of a Will, Durable Power of Attorney, Health Care Proxy and Living Will, and a HIPAA Release. If desirable, some families also create Revocable Trusts as another asset management and tax planning vehicle in their estate plans. Whether an estate plan is simple or complex is entirely decided by the specific needs and objectives of each client.
Each of these documents helps to create clarity for your family, especially after your death, by providing detailed instructions as to how you want your property managed and distributed. Estate planning is much more than just deciding “who gets what” – it also encompasses choosing guardians for your children, charitable giving, disability planning, inheritance protection, insurance planning, and probate and tax planning.
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Contact Grant Gray, PC today to learn about how their Estate Planning services may be the right fit for you and your family.