Estate Planning

Wills, Trusts, and Estates

We handle a variety of estate planning issues, including:

  • Last Will and Testament
  • Powers of Attorney
  • Advance Medical Directives (Living Wills)
  • Trusts
Two people signing documents at a table.

What is a Last Will and Testament?

A Last Will and Testament is a legal document that outlines your wishes for the distribution of your assets and the care of your minor children after your death. Having a will gives you control over who receives your property and who will become the guardian of your children.

Without a will, your assets will be divided according to state law (known as "intestate succession"), and the court will decide who will be the guardian of your minor children and the administrator of your estate. This can lead to a long, expensive, and stressful legal process for your family, as seen in cases like Prince's estate, which was tied up in litigation for years.

A will provides immense peace of mind, ensuring that your wealth and assets are distributed according to your wishes, not by the courts. If you have children, especially from a former marriage, a will is crucial to ensure they are cared for and your property is distributed as you intend.

Lawyer consulting client at wooden desk.

Other Important Estate Planning Documents

Though a Last Will and Testament is the cornerstone of any estate plan, other documents are essential for a comprehensive strategy. The most important things are (1) you can't execute a Will once you're deceased and (2) you can't execute a Will if you can't comrehend what's in it. In other words, if you have a stroke or an accident, it's too late to think about a Will. For those reasons, Attorney Wegman urges you to get the piece of mind you need now while you can. You can decide who gets what (of your tangible  personal and real property) and who will be the guardian and trustee of your children. Why leave those decisions to the court?

Advance Medical Directive (Living Will):

This document gives a trusted individual the authority to make life-or-death decisions on your behalf if you become incapacitated.

Durable Power of Attorney:

This allows a person you choose to make critical financial and household decisions for you if you are medically or geographically unable to do so.

Durable Power of Attorney for Healthcare:

With this document, you authorize someone to access your medical information, fill prescriptions, and discuss your treatment with healthcare professionals on your behalf.

Limited Power of Attorney:

This grants a specific individual the authority to make final arrangements for you after your death.

Trusts:

A trust can be a Testamentary Trust (created by your will) or an Inter Vivos Trust (created during your lifetime). Trusts offer a variety of benefits, including sheltering certain assets from estate taxes and probate liability.

Don't leave your future to chance. Call Attorney Wegman today at (757) 482 5205 to secure your peace of mind and protect your loved ones.