Since life is uncertain, it is important to plan for your future and that of your family, even at a young age. Every individual, especially if he/she has children or any amount of assets, should have a will and estate plan.
A will governs the disposition of all property and assets you own, have the right to dispose of, or to which you or your estate may be entitled to upon your death. A will specifies who will receive your property, how the property should be distributed, who will administer and settle up your estate, who will act as the guardian(s) of your children, and who will hold and administer your children’s inheritance until they are of age to receive their inheritance outright.
Logan & Gatten Law Office is highly skilled and experienced in helping you answer these questions to make sure that your loved ones are taken care of and that all your assets are preserved and pass according to your intentions and desires.
One of the tools that we use in planning your estate involves the use of trusts. Trusts are often incorporated into your will and take effect to preserve your assets at the time of your death. Logan & Gatten Law Office has also become experienced in the formation of Special Needs Trusts for minors and adults with special needs. Such individuals need to have their government benefits protected and Logan & Gatten Law Office can expertly guide you through the maze of laws and regulations to assure you that your loved ones receive the benefits they need and deserve. Logan & Gatten Law Office can advise you as to which type of trust may be best for you depending upon the circumstances of your situation.
Closely associated with wills are General Durable Powers of Attorney and Advance Health Care Directives (a combination of a Durable Health Care Power of Attorney and a Living Will). A power of attorney is a document in which you appoint another person to serve as your attorney-in-fact/agent so that he/she can sign financial papers, property transactions, etc., and certain medical/health care authorizations on your behalf. A Living Will is a document in which you direct which type(s) of treatment you are to receive if you are in an end stage medical condition or are permanently unconscious. Without a Living Will, you will not have the final say as to which treatments you receive during your last days.
It is imperative that you do not put off having a Will, Powers of Attorney, and a Living Will prepared until they are actually needed. If you wait until these documents are actually needed, it will be too late and your desires and wishes may not be honored.
When the time comes to administer your loved one’s estate, Logan & Gatten Law Office can assist you. Because there are a number of serious legal and financial issues that arise when someone dies, there can be considerable financial consequences if the estate is handled improperly or not according to law. Fortunately, Logan & Gatten Law Office has a great amount of experience in estate administration and we are ready to help you during your time of loss and grief.