Frequently Asked Questions (FAQ)
When Should I Change My Estate Plan?
If any of the following events occur, you should review its potential effect on your will and estate plan to determine whether it should be amended or revised. (This is not an all inclusive list)
When Should I Change My Will or Estate Plan?
Advantages of Having a Will
Property and assets are owned by many types of legal entities -- individuals, partnerships, corporations and trusts. A trust is just a separate paper entity that is established by a property owner to leave assets to his or her beneficiaries. A trust is simply a "contract" between the property owner and the trustee. There are many types of trusts in use: living revocable trusts, living irrevocable trusts, pure trusts, bankers trusts, family trusts, charitable remainder trusts, investment trusts, unit trusts, life insurance trusts, etc. Of all these Trusts, a Revocable Living Trust is one of the most popular and important Estate Planning documents in use today.
Other FAQ's about Wills
Q. MY MOTHER/FATHER HAS PASSED AWAY. WHAT DO I DO?
A. DID HE/SHE LEAVE A WILL? MAKE APPT. TO DISCUSS.
Q. HOW CAN I PROTECT MY ASSETS FROM GOING TO A NURSING HOME?
A. MAKE APPOINTMENT TO DISCUSS ESTATE PLANNING.
Q. DO I NEED A WILL?
A. MAKE APPOINTMENT TO DISCUSS .
Q. IF I DON'T HAVE A WILL, WHAT HAPPENS TO MY PROPERTY?
A. IT WOULD GO TO YOUR NEAREST RELATIVES (HUSBAND/CHILDREN).
Q. WHAT IS A LIVING WILL AND DO I NEED ONE?
A. IT OUTLINES YOUR WISHES ABOUT ARTIFICIAL LIFE SUPPORT .
Q. WHAT IS A HEALTH CARE PROXY?
A. IT GIVES THE PERSON YOU APPOINT THE POWER TO ACT AND DECIDE
MEDICAL ISSUES ON YOUR BEHALF WHEN YOU ARE UNABLE TO.