Despite what you may think, everyone needs some level of Estate Planning. Regardless of the size of your assets, Estate Planning is an essential tool to protect your family’s current and future financial security. Sklarin Law, LLC’s goal in any Estate Plan is to create a comprehensive plan that is specifically tailored for your particular circumstances.
A basic Estate Plan includes a Will, Power of Attorney, and Living Will (also known as an Advanced Healthcare Directive). A Will, the cornerstone of any Estate Plan, dictates how and to whom your assets will be distributed. A Power of Attorney appoints an agent on your behalf to manage your financial affairs during your lifetime. This document can either take effect immediately or in the event you become incapacitated. A Living Will appoints an agent to make medical decisions on your behalf in the event you become incapacitated. This document also acts as a healthcare proxy directive which sets forth your wishes as to medical treatment if you become terminally ill and unable to communicate.
Many Estate Plans also include a Trust. Trusts can take many forms and be used for many purposes. In general, a Trust is another method to control how assets are held and distributed. One of the most common Trusts is known as a Revocable Living Trust, which has a similar purpose as a Will, but operates outside of probate. Depending on your circumstances, a Trust may be right for you.
Sklarin Law, LLC represents clients in the Administration of Estates. Administering an Estate is the process whereby a Will is submitted to probate, taxes and debts are paid, and property is distributed to the correct beneficiaries. Sklarin Law, LLC represents executors, personal representatives, and administrators in settling the Estate of a family member or loved one. We also represent beneficiaries and others impacted by an Estate in Will contests and estate litigation.