Death is a topic most people choose to ignore. However, it is very important to prepare and plan how you wish your possessions to be divided after your passing.
A will is one way to instruct your loved ones how you wish to have your assets divided after your death. With a will, you elect whom your executor will be. This is the person that administers your estate upon your death. You may have a specific item that you want to leave to a particular person after your death. A will allows you to specify who will inherit such items.
If you’re a parent, a benefit to creating a will is allowing you to assign a legal guardian for any minor children you may have at the time of your death. This is especially beneficial if both parents pass and leave behind minors. Robert A. Cheely & Associates will help you prepare by sitting down with you and creating a will that caters to your needs. Call us now to discuss setting up a will for your or your loved ones.
Forming a trust allows you to transfer your assets to a trustee to hold, manage, and distribute the assets held in trust according to your specifications listed in the trust agreement. At Robert A. Cheely & Associates, we can assist you with different types of trust to suit your needs.
Trusts can be formed for numerous reasons including limiting liability, significant savings in income taxes and managing property for beneficiaries under age.
Having power of attorney for health-care allows you to appoint a designated agent (aka advocate) to make important medical decisions on your behalf, in the even you are unable to communicate or are not of sound mind.
Having a durable power of attorney allows your to select and delegate an agent to manage your assets in the event you are unable to do so any longer. At Robert A. Cheely & Associates, we can help you with your estate planning needs. Contact us today to discuss your estate planning desires.
