Trust & Estates
Learn More About Legacy Planning with Law for Love
Revocable Living Trusts are a powerful tool for keeping your assets out of the jurisdiction of the courts after you pass away. There are a number of other benefits for utilizing this tool for your asset management. We welcome your questions so that we can discuss your goals.
Revocable Living Trust
Last Will & Testament
Power of Attorney
Advance Directive for Medical Decisions
Maximize Non Probate Strategies
Sherlyn "Char" SelassieAttorney at Law
Probate vs. Non-Probate Assets
Probate assets are those that go through the probate process, which involves court supervision to validate the deceased's will and distribute the assets, often resulting in delays and public disclosure. In contrast, non-probate assets bypass the probate process and transfer directly to beneficiaries through mechanisms like joint ownership, beneficiary designations, or trusts, ensuring a quicker and more private distribution. While probate assets are subject to court fees and potential creditor claims, non-probate assets generally avoid these complications, offering a more streamlined approach to inheritance.
Book Your Complimentary Estate Evaluation & Planning Session
Revocable Living Trust
A revocable living trust is a legal entity created to hold and manage a person's assets during their lifetime, with provisions for the distribution of those assets after their death. It can be altered or revoked by the creator at any time while they are alive, offering flexibility and control. Additionally, it helps bypass the probate process, ensuring a smoother and more private transfer of assets to beneficiaries.
Last Will & Testament
A revocable living trust and a last will and testament both serve as instruments for managing and distributing an individual's assets after death, but they function differently. While a last will and testament goes through probate, a potentially lengthy and public process, a revocable living trust allows assets to be transferred directly to beneficiaries without probate, offering privacy and efficiency. Often, individuals use both, with the will covering any assets not placed in the trust, ensuring comprehensive estate planning.
Power of Attorney
A power of attorney is a legal document that grants an individual (the agent) the authority to act on behalf of another person (the principal) in specified matters. This can include financial, legal, and healthcare decisions, depending on the type of power of attorney created. It is particularly useful in situations where the principal becomes incapacitated or is otherwise unable to manage their own
Advance Directive for Medical Decisions
An advance medical directive is a legal document that outlines a person's preferences for medical treatment in case they become unable to communicate their decisions. It can include specific instructions on the types of medical care desired and appoint a healthcare proxy to make decisions on their behalf. This ensures that an individual's healthcare wishes are respected and provides guidance to loved ones and medical professionals during critical moments.
How Much Will My Estte Plan Cost?
We offer estate planning solutions which range from $1,780 to $3,500. The cost will depend on the complexity of your estate including the number of real estate parcels, whether you are including assets/rights in an LLC, corporation, or other business entity, and whether your business also requires succession planning services.
