Blog Written by Attorney Hugh Currin

I wish I had a nickel for every client who told me that they didn’t need a will because they didn’t have anything; and, a quarter for every estate I have handled that involved intestacy and everyone involved agreeing that this is not what he or she would have wished for their property…I would be a rich man.

A will can be very straight forward or extremely complicated depending on your personal situation and what your wishes are after you pass.  Do you have a spouse, does he or she have a substantial estate of their own, do you intend to inherit value, do you have children, are they minors, who will look after them if something happens to the both of you, do you have a disabled beneficiary, do you have a spendthrift beneficiary, do you and your spouse have children by a prior marriage, have you made a will and had a child born since you signed it, do you have heirlooms that you want to preserve,(or collectables), do you own land, bank accounts, automobiles, do you have debt that needs to be addressed.

These are just a few of many questions that need to be addressed in planning for your passage.  I know it’s not pleasant to consider, but what makes us different than the animals is that we know life is limited and the day will come, so to speak.  Our advice is to confront those issues now and get everything in place as you wish it to be so there are no worries when that day comes. 

We usually address four important things with each of our clients at our first meeting. 

1) Your Will: this is the main document that will direct how you want your assets handled at the time of your passing.  

2) Your Living Will: this document directs your wish for a natural death with certain contingencies that you choose.  I call this document your gift to your family.   I call it this because if the time were to come that they must make a difficult decision, you have relieved them of that burden.

3) Your Durable Power of Attorney: this piece of the puzzle is important because it allows you to designate a certain person to handle your affairs if you are unable to do so.  I remind my clients that this could be one of the most important documents to consider.  I say this because as soon as you need one, it is generally too late to prepare in that you are unable to sign it.  The result could be a costly guardianship proceeding before the Court, amongst numerous other issues. 

4) Your Health Care Power of Attorney: It is here wherein you designate someone to look after your health care decisions and business if you are unable to do so yourself.  Many of our health care providers and insurance providers now want a document designated specifically as a health care power of attorney rather than the general power of attorney. 

Another important aspect of your estate planning not mentioned above may involve the establishment of a trust to accomplish specific things such as protecting your assets from  a beneficiary such has preserving your assets for another generation, preserving and allowing investment of assets for the benefit of minor children, using your assets to help look after a love one and then passing on what is not used to your beneficiaries, gifts to charity after the trust has cared for a beneficiary, etc.

We know the task of creating your will can be uncomfortable and intimidating process but the benefits of preparing far outweigh the costs of waiting.  Please contact our office if you need help planning for your future, we are ready to help you prepare.