Clovis Law Group LLP will customize an estate plan for your needs.
Who needs estate planning? Everyone. Whether your estate is large or small, an estate plan is necessary to make sure your affairs are in order for your family upon your passing.
Clovis Law Group LLP creates personalized estate plans for large and small estates. Your estate includes all your assets such as car, furniture, clothing, artwork, jewelry, homes, land, businesses, bank accounts, and retirement accounts. After death, these assets will need to be distributed. Your estate plan allows you to control the distribution.
A will is the legal cornerstone to any estate plan, and is the minimum requirement for any individual, regardless of age or financial status. Without a will, assets will be distributed according to a process known as “intestate succession.” A will is a traditional legal document that will allow you to nominate an executor to manage your estate and to identify individuals or entities to receive your assets.
A trust is another common part of an estate plan that will allow you to manage your assets in a more comprehensive way than a will. A trust will allow you to set up your estate to avoid going through “probate” which can delay the distribution of assets and access to money for beneficiaries. A trust is also not part of the public record.
Two other important parts of an estate plan include a power of attorney and an advance health care directive. A power of attorney allows you to designate another person to manage your financial affairs during your life and can be set up to take effect only in the event of incapacity. An advance health care directive is a legal document that gives another person the right and authority to act on your behalf regarding health care decisions. This includes decisions regarding medical treatment (or withholding medical treatment), end-of-life decisions, organ donation, disposition of remains, and funeral plans. Without a health care directive, family members may have to go to court to request a court-supervised conservator to manage your affairs and be responsible for your care.
Many clients will benefit from a basic estate plan that includes a will, a trust, and a health care directive. Other clients will require a more involved estate plan that may include gift trusts, family limited partnerships, irrevocable life insurance trusts, and business succession planning. Clovis Law Group LLP will help you navigate these options to customize an estate plan for your needs.
How we help
- Wills
- Trusts
- Powers of attorney
- Advance health care directives
- Gift trusts
- Family limited partnerships
- Irrevocable life insurance trusts
- Business succession planning
