Estate planning is the process where an estate planning attorney assists an individual or couple in protecting their assets during their lifetime in case they become incapacitated and upon their death.
Estate planning is a complicated process and requires an attorney with experience in estate planning. Ally Glaser has the experience and a psychology and law degree to assist you in this sensitive time.
Whether you have small children, grown children, a business, or loved ones to protect, estate planning is a great tool. Before you begin your estate plan and meet with an estate planning attorney, it is helpful to prepare a list of your assets and describe how they are owned. For example, your house, bank accounts, investments, and even business interests, vacation homes or investment properties.
The next step to estate planning is the initial meeting with an estate planning attorney. At the meeting, you will share your list and describe your vision for your loved ones and your assets. Your estate planning attorney will then describe the documents you may need. Some of these may be health care documents, a limited or durable power of attorney, a pour over will, and a revocable trust.
A revocable trust is a great estate planning tool and if done properly with an experienced estate planning attorney, can avoid probate. Probate is the long and complicated court process that is needed if an individual dies with assets in their own name or if jointly owned, both individuals pass away.