Minimum estate plan AND THE COST
AND THE COST
An estate plan is personal to each individual. There is no “one size fits all” in estate planning. Everyone has different needs, financial consideration and family concerns; however, this is the basic minimum estate plan that everyone should have:
Last Will and Testament:
To distribute your property at your death as you wish and to designate the person you wish to have handle your estate affairs and take care of your minor children. Without this document the Courts and the law will make these decisions which often times would not be as you wish.
Durable Power of Attorney
To designate a person (s) who will manage your financial and personal affairs in the event you are disabled and unable. This document will enable the person you designate to transfer property out of your name and execute other documents which may be necessary for you to become eligible for Medicaid benefits in the event you become permanently disabled.
Without this document the Courts will designate someone to handle your affairs which may not be the person you would have chosen. In addition without this document your property may be lost to payment of your medical care which may have been provided to you without cost through Medicaid.
Living Will and Health Care Proxy
To state your wishes as to your “end of life care” and to name someone to make all health care decisions for you if you are unable.
Without this document the Courts, the hospital and the law will make these decisions for you which may not be as you wish.
The legal fees for consultation, preparation and supervision of the execution of these documents for both a husband and wife is $500.00