This is a term that covers issues pertaining to transfer of wealth after death. Your “estate” is what you own or have rights to after you have deceased. Therefore estate planning covers the legal preparation for this eventuality and the tools we use to facilitate the transfer of wealth with things such as, but not limited to, wills and trusts.
Gather information about your assets and then meet with your attorney to determine how you want to devise your estate, and whom you want to designate to be in charge of seeing that your last wished are followed.
In a will this person is the Executor or Executrix. If you leave anything in Trust you have to pick the Trustee(s) and beneficiaries. Your attorney may want to work in conjunction with your accountant or financial planner on more complex estates.
This is also a good time to consider whether or not you want to have a Health Care Proxy or “living will” if you have strong feelings about what you want your loved ones to do if they have to make medical decisions for you regarding extraordinary medical measures such as: life support, feeding tubes, psychotic medications, long term medical care, etc., when you are no longer able to communicate your wishes to those around you.
Honoria DaSilva-Kilgore
2 Richard Street
Raynham, MA 02767
Toll Free: 1-888-993-8899
Phone: 508-822-3200