No one likes to consider their own passing, but preparing for the future with an estate plan can bring you peace of mind and secure your loved ones’ future. In Oberlin, people who wish to create or update a comprehensive and high-quality estate plan go to the experienced lawyers at Kryszak & Associates. To learn more about all the ways that our office can help with your estate planning needs, call or contact our office today to schedule a free consultation.
The attorneys at Kryszak & Associates have significant experience drafting and updating all of the critical documents for a comprehensive estate plan. This includes the following:
The final will and testament is the document that most people think about when they consider creating an estate plan. This is the instrument that will appoint an executor to your estate and distribute your estate assets to heirs and beneficiaries. Without a final will, your estate is distributed according to Ohio intestacy law, which may mean that family members you did not want to inherit will receive a portion of your estate and others may be left out.
A power of attorney names a person to handle all financial and legal matters in your name if you become unable to do so for yourself. This could be because of illness, injury, cognitive decline, or if you are out of the country. You should only name a person that you trust completely with this power.
A living will gives specific instructions about your medical care if incapacity or disability renders you unable to communicate your wishes. Common inclusions in a living will is whether you wish to be placed on life support, receive certain medications or treatments, whether you approve of a feeding tube, and more. Medical professionals are bound to your wishes in a living will.
The final essential document in an estate plan is the healthcare proxy, sometimes known as the healthcare power of attorney. This person is allowed to make medical decisions on your behalf if you cannot. Your healthcare proxy will receive your medical information and make healthcare decisions in your best interest; however, they are also bound to your wishes if you have a living will.
One final estate planning service that Kryszak & Associates provides is trust creation and administration. Depending on the details of your estate, it may make sense to place some of the estate assets in trust for beneficiaries. This saves these assets from the probate process and can have significant tax savings for you. Talk to us today to learn more about the benefits of a trust.
If you would like to speak with an experienced estate planning attorney about creating or updating your estate plan, call the office or contact us today at Kryszak & Associates to schedule a free consultation.