An estate without a plan is a surefire way to create confusion and conflict amongst surviving family members. A comprehensive estate plan from the Akron estate planning attorneys at Sheppard Law Offices is the best way to organize your affairs according to your wishes. Contact us today to get your estate in order, and let us draft the Will, living will, trusts, and powers of attorney per your wishes.
Wills & Living Wills
When it comes to proper estate planning, a Will, and living will are the two most common documents that estate planning lawyers draft. And while both documents outline how the deceased or incapacitated party wants their affairs handled, a Will and living cover different scenarios.
A Will is a legal document that serves as instructions for the executor of the estate to distribute the deceased party’s assets and property according to Will Maker’s final wishes. On the other hand, a living will serves as instructions for the Principal’s medical care should he or she become incapacitated to handle his or her own medical affairs. The living will authorizes the Agent to withhold or withdraw artificial nutrition and hydration so as to die naturally when the Principal cannot make the decision himself or herself because the Principal is in a permanently unconsciousness state or terminal condition.
Do I Need a Will?
While you are not legally obligated to draft a Will before you pass, having one in place makes the lives of your surviving family members significantly easier. An estate with no Will is left intestate, which means the probate judge presiding over the case will select an administrator at the judge’s own discretion. The administrator is generally someone who is closely related to the deceased party; he or she will typically apply to the court to act as the fiduciary in the case.
Intestate estates often cause confusion and conflict amongst family members. In order to prevent that from happening, the estate planning attorneys at Sheppard Law Offices highly suggest drafting a Will and/or Living Trust.
Akron Trust Attorneys
A trust is a fantastic way to designate assets to a party that cannot yet claim the assets. Most trusts avoid the probate process as they are legally binding when they are executed during the trust maker’s life. One of the most common scenarios for a trust is when the estate intends to leave assets for an individual under the age of 18. Since it is not legal for someone under 18 to possess assets, a trust designates a trustee to protect the assets until the underage beneficiary reaches the appropriate age or requirements necessary to take possession of the assets. Trusts are either revocable or irrevocable.
Power of Attorney
Power of attorney is a document where an Agent becomes responsible for the Principal’s financial affairs and medical decisions should the Principal become unable to handle his or her own affairs. The individual given the power of attorney handles all the financial, medical, and legal decisions in the best interest of the Principal. Our estate planning attorneys can help you designate a reliable power of attorney or Agent to act on your behalf should the need arise.
Leading Akron Estate Planning Attorneys
When it comes to estate planning in Akron, Sheppard Law Offices has the right legal team for the job. Our extensive experience drafting estate plans will help you meet all of your current and future desires. Contact us today for a free consultation with one of our experienced estate planning lawyers.