Estate Planning
The attorneys at Stephens Boatwright work together with clients in to determine which estate planning tools should be employed. We help you make arrangements for:
- Financial security for a spouse and children
- Specific bequests for beneficiaries
- Educational funding for grandchildren
- Selection of Decision Makers in the event of your disability
- Implementing your health care decisions
Among the estate planning tools you will consider are the following:
- Wills — a will describes the desired distribution of your property and other assets upon death. A will specifies who will be responsible for implementing your wishes
- Powers of Attorney — a financial power of attorney authorizes someone you choose to take charge of your financial affairs if you become incapacitated. Individuals who have lost the capacity to manage their own affairs are at risk of exploitation by others, and a power of attorney can help avoid this risk.
- Advanced Medical Directives --- A medical directive, also known as a living will, specifies your preferences with regard to certain life-saving measures and or life prolonging measures that you may or may not wish to have employed. A medical power of attorney gives one or more individuals the right to make medical decisions on your behalf if you are incapacitated
- Revocable Trusts — a revocable trust is an instrument that can give many estate plans increased flexibility and ease of administration. By transferring formal ownership of some or all of your property during your life to a revocable trust, such property is not required to go through the estate administration process or probate. At the same time, the fact that the trust is revocable means you maintain broad authority over it during your life - Learn more about Revocable Trusts