Direct Wills And Trusts Case Study

On a living will, an individual can express if they would prefer not to be resuscitated or if they don’t want to be living artificially on life-support. Additionally, living wills establish a written declaration of a power of attorney, establishing a person who may legally speak on behalf of a patient who is unable to do so. Living wills are crucial pieces of documentation that are necessary for the dignity and wishes of a person who may fall unexpectedly into a life-threatening condition. If a person does not wish to live artificially on life support, a living will may be the only documentation that can secure their right to die with what they choose to be a dignified death. Unfortunately, living wills are not too common, resulting in countless Americans whose lives are extended long after they wish to live. In order to get a living will, one can either hire an attorney and have the attorney draft a living will or there are templates available that can be filled out and submitted for notarization.

Death is something that most people do not like to think about, much less talk about. It is easy to see why the important decisions involving one’s own end of life decisions or the decisions of a loved one are conversations easily pushed to the back burner. Before it is too late, people should fill out an advance directive, including a living will and durable power of attorney, to decrease the burden and uncertainty that could be left to loved ones. People should also consider the type of care they would like to receive at the end of their life and what to do with their body once they have died. Having plans surrounding one’s death is beneficial to everyone involved, as it gives a clear plan on how to proceed.

Furthermore, since some articles in this blog indicated that property left in a will may be sold to cover expenses, this article reveals the process of how that happens. The executor doesn’t get to pick which beneficiary loses a bequest. The decedent or probate court makes that decision through the will or legal statute.

If you want to understand your legal rights and responsibilities, turning to the Law Office Of Michael A. Laux for the guidance of an estate planning attorney may give you the information you need. We can show you how estate planning is something you can do for your family and make things simpler for them.

The process of dividing and distributing a person’s assets after death, called probate, can be time consuming and expensive. In order to avoid probate and save their families the hassle of hiring attorneys and waiting months to receive the gifts mentioned in a will, many people structure their estates in a way that circumvents the probate court system.

As the Testator, you can name two people, as Joint Executors, to administer the estate. There can be some benefits as well as pit falls to this approach, and the right decision will vary depending on your family and financial situation. Appointing more than one Executor can help to spread out the duties required of the Executor. This can be particularly beneficial for Executors who have full time careers or obligation which make it difficult to find time to fulfil their estate administration duties. Another advantage of Joint Executors is that the Testator can assure the executors have the necessary financial expertise

The main point of this video is the magnitude of participating in estate planning. One important aspect is making a will. The You Tube video I chose was from a law firm called, “Argon Law”. The speaker emphasized the advantages and disadvantages of making a will, so your wishes for the distribution of your assets at death/tragedy will be meet. “This includes Assets held by companies, assets held in trusts, and proceeds of life insurance are a few of the processes you must think about. One important statement he made. The law allows for your spouse, child or dependent to challenge your will after you die.”(Gallagher, 2014).

Having an advance directive is of high importance, whether it is a living will or durable power of attorney. A living will is a document that acknowledges the wishes and expectations of a person after he or she becomes unable to make decisions for themselves. Living wills allow people to remain sovereign, even at their most vulnerable points in their lives. A durable power of attorney also grants a person the freedom of choice by allowing them to select a member of their family, friend, or anyone else of whom they would trust with making paramount decisions for the person if they were not able to so on their

At the core of an estate plan is a will. A will allows a person to specify who will receive their assets after their death. It also

To discuss your specific needs with one of our estate planning attorneys in Pittsburgh, please call us at Fingeret Law at 412.281.8222 or contact us

A probate court judge doesn't care about friendships or personal relationships. He will divvy up assets based on legal and blood relationships, which means your close friends and intimates may receive nothing. Of course, that is not the only reason you need a legally-binding last will and testament.

We usually think of a person’s will as a financial document used to make sure his or her estate is distributed according to his or her wishes. The will can also be used as a constructive tool or a destructive weapon to reach other goals, which often do not involve money. Eddy M. Elmer, in his article, “The Psychological Motives of the Last Will and Testament” describes the use of wills. Used positively, a will can be used to foster a sense of continuity for the survivors and to preserve family relationships. Used negatively, through imposed conditions, disinheritance, unequal treatment, and attaching “strings,” a will can be used to control from the grave and continue dysfunction in a family.

It can seem like an honor, at first. When people make out their wills, they typically name a trusted person as their executor, who then has a legal responsibility to distribute their property according to the wishes of the deceased, and make sure all debts and creditors are paid.

Although an estate may close informally, it doesn’t mean that a probate court won’t request information at a later date. Therefore, the executor should hold on to the original documents related to the informal closing. In addition, the executor should retain supporting documents related to entries in the final accounting such as receipts, bank statements, and brokerage statements. Basically, all an executor needs to do is store all the documentation used to produce the

A living will also allows a person to state with particularity the forms of treatment are wanted and not wanted. For example, if a one does not want artificial life support, then sign the living will stating that desire. It is also important to discuss your beliefs and wishes with you family, spouse and other people whose opinions you respect, such as clergy,