The inevitable will happen one day, and you probably don't want the government or court systems deciding where your assets will go. Don't leave your loved ones behind to face the complicated probate system. With the help of Mombrun Law, PLLC, you can create an estate plan that will outline where your assets and property will go after you are gone. Together we can protect your loved one's financial future, minimize taxes on your estate, and create a strategy to meet your goals.
Wills and Trusts
A last will and testament is a document that outlines what should happen after your death. A last will and testament determines where your property will go, who will have custody of your children or pets, and who will be in charge of distributing your finances or paying off any debts you leave behind. A trust is an entity that is created to hold property which is then provided to a designated beneficiary. Most trusts are created within a will. Trusts are a great way to manage and protect assets, postpone delivering the assets until certain requirements are met, and avoid putting your loved ones through the probate system. At Mombrun Law, PLLC, we can discuss your goals and expectations and help you decide if a will that includes a trust is right for you.
Advanced Directives
We would all like to think that we will be in charge of making decisions about our health care, but a sudden or catastrophic illness or injury might leave you incapable of communicating your wishes to your health care providers. Advanced directives can include a living will, name a health care power of attorney, or provide instructions on how you wish to be treated in case you are unable to do so. Mombrun Law, PLLC understands all the intricacies involved in advanced directives and can help you outline your wishes to your family and medical professionals so there is no doubt.
Powers of Attorney
A power of attorney (POA) is a document that appoints someone to manage your affairs in case you are unable to do so yourself. Different types of POAs give the appointee different levels of control. You might want a POA if you are planning to be out of the country for an extended period of time and need someone to pay your monthly bills and manage your finances while you are gone. A health care POA is useful if you are anticipating major surgery and may not be able to make decisions for yourself during and after the surgery. If you think you might need a power of attorney, talk to Mombrun Law, PLLC to determine which POA is best for you.
Special Needs Planning
Special requirements exist for those who are disabled or impaired or have immature, minor, disabled or impaired beneficiaries. In these cases, a special needs or a supplemental needs trust can be created to preserve the person with special needs' Supplemental Security Income (SSI) or Medicaid eligibility.
