Bay Village Estate Planning Attorney
Helping Clients Create and Maintain the Right Estate Plan for Their Situations
Many people assume that estate planning is only for the extremely wealthy or much older adults. In reality, having a carefully crafted estate plan is wise for adults of any age or circumstance. While an estate plan does address what happens to your property and assets after you pass away, your plan can accomplish so much more, including ensuring your well-being during your life.
The legal team at Kryszak & Associates understands how to design estate plans for a wide variety of situations. If you have questions or would like to begin working on your estate plan, please contact us for a consultation with a Bay Village estate planning attorney right away.
Components of a Comprehensive Estate Plan
There are many legal tools that you can use to ensure your estate plan fully protects your interests and those of your beneficiaries. Some of the estate planning tools our firm can help with include:
- Last Will and Testament – This document is often the foundation for an estate plan, as it provides direction for how you want to distribute your property after you pass away, who should be named the legal guardian of your children, and who should be in charge of your estate administration. A will allows estate distribution in accordance with your wishes instead of in accordance with state law.
- Living Trust – Creating a trust can serve many purposes, including avoiding probate for most of your property, preserving privacy, protecting assets from certain taxes and creditors, and having greater control over the timing of your estate distribution. Special trusts can also help to provide for loved ones without affecting their eligibility for important public benefits, such as Medicaid.
- Power of Attorney – There is always the chance you may become temporarily or permanently incapacitated before you pass away. A power of attorney document allows you to give a trusted individual the authority to handle all of your legal and financial affairs on your behalf.
- Healthcare Power of Attorney and Living Will – While a power of attorney handles your practical affairs, your designated healthcare power of attorney will be in charge of all decisions for your medical treatment and care. A living will expresses your preferences for end-of-life care, including pain management and artificial life support.
There are many aspects to a comprehensive estate plan, and your specific estate plan should directly reflect your needs and goals, as well as the nature of your estate and your beneficiaries.
Other Legal Services
In addition to creating and amending estate plans, our attorneys also assist clients with the following:
If you are a trustee or executor of an estate and you need assistance, do not hesitate to contact our office to learn more about how we can help.
Contact a Bay Village Estate Planning Attorney for More Information
Kryszak & Associates help many different clients plan for the future. We are committed to helping protect you, your family, and your hard-earned estate. Contact us to schedule a consultation with a Bay Village estate planning attorney today.