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Creating an estate plan brings peace of mind and is an
important part of planning for one's future. An estate plan need not be
complicated or expensive. A typical estate plan may include a Durable
Power of Attorney, a Health Care Directive ("Living Will"), and a Legal
Will.
All adults should have a legal will. It is especially
important for people with dependent children, blended families, and
unmarried life partners to have legal wills expressing their personal
choices. A simple legal will allows one to specify an executor and
designate a guardian for dependent children, in additional to planning
for distribution of wealth. Each legal will is customized to meet the
unique needs and family situation of the specific client.
For many people a simple legal will is sufficient.
Others, including those with a net worth over $1,000,000.00 or those who
want to form a special trust should consider additional estate planning
tools such as a trust designed to eliminate or reduce federal estate
taxes, provide restricted income to a child, or provide lifetime
benefits to someone with special needs.
If a person wants their property to pass to people
other than to a married spouse and children, they must have a legal
will. Unmarried couples wanting to provide for their partner, and people
wanting to give unequal shares to children, include unrelated people, or
exclude someone must have a legal will. A legal will insures ones? final
wishes will be carried out. Additionally, having a valid legal will can
significantly reduce the future cost of probating an estate.
Ms. Patton's clients frequently report a sense of
relief after completing their legal will and other estate planning
documents.
Ms. Patton offers affordable flat rates for the most
common estate planning documents including Durable Powers of Attorney,
Health Care Directives, and simple Legal Wills.
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