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Woodstock Estate Planning

woodstock family attorneysEstate planning is something every individual should consider. Estate planning does not have to be complicated, and Woodstock family attorney a can help you develop an estate plan specific to your assets and needs.

Estate planning is especially important if you have children, own a business, or have complicated assets. If you don’t take the proper steps and plan with our Woodstock family attorneys, you may leave it to a court to determine who takes care of your children and how your assets are divided.

Woodstock Estate Planning

There is no one-size-fits-all estate plan. You should not listen to any Woodstock family attorney that tries to sell you such a simple plan. Instead, a reputable attorney will work with you in fashioning an estate plan specific to you. Some instruments in an estate plan can include:

  • Wills. The will is the simplest estate planning document. In most cases, a Woodstock family attorney will help you draft a will and include it in your estate plan. You can spell out how your assets are to be distributed in your will, even if this means distributing the assets to a trust. In addition, you may be able to name guardians for your children.
  • Living Trusts. A living trust is a more complicated estate planning instrument. If you want to learn if a living trust is right for you, you should talk to our Woodstock family attorneys. In some cases, a living trust may be useful to avoid high probate costs. Trusts are also beneficial to tailor specific gifts and to leave instructions over how you would like an asset to be distributed.
  • Power of Attorney. A power of attorney can typically be over finances or health care. A durable power of attorney is a very important document and can allow your designee to
  • make decisions for you should you become incapacitated. You should talk to a Woodstock family attorney to learn the type of power of attorney right for you.
  • Advance Healthcare Directive. This instrument allows you to state your wishes regarding medical care, life support, and other health issues. With the help of a Woodstock family attorney, you can state your wishes in advance, while you are lucid and have capacity. This will provide peace-of-mind should you ever lose capacity.

The above are just some basic estate planning instruments. If you have questions about a specific instrument, talk to a Woodstock family attorney.

Contact a Woodstock Family Attorney

Every individual should consider creating an estate plan. This is even truer if you have a family, own a home, run your own business, or hold complicated assets. If you have any questions about estate planning, contact our Woodstock family attorneys at the Stetler Law Group by calling (815) 529-4554.

 

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