Trust & Estate Planning

Trust & Estate Planning: What You Should Know and How We Can Help You

One of the greatest lessons life can teach us is to expect and prepare for the unexpected. It is for this reason that an estate plan is very important. The Monteleon Law Group works to provide comprehensive and affordable estate planning services to individuals to help them protect their legacy in the event the unexpected occurs. Our passionate and knowledgeable estate planning attorneys are equipped with the knowledge to tailor an estate plan to a client’s objectives based on their specific wishes and estate planning needs. Clients seek estate planning services for a variety of reasons – whether it is planning for long-term care, incapacity, special needs, or to avoid probate. No matter what the reason is or the size of your estate, it is important to have the proper plan in place in order to protect your legacy and fulfill your wishes.

What is a Living Will?

A Living Will, otherwise known as an Advance Healthcare Directive, is a legal document in which a person declares his or her wishes for medical care in the event that they are no longer able to make such decisions for themselves. A Living Will is a very important document, as it leaves specific instructions regarding how the person wants to be cared for and prevents any confusion on the part of family members or medical professionals. An example of a concept covered in a living will is whether or not a person would like to remain on life support should they require it.

What is the Difference Between Simple and Complex Wills?

Not every Will is the same. Two primary types of Wills include Simple Wills and Complex Wills.

A Simple Will can be used to name your beneficiaries, choose a legal guardian for young children and determine how property will be divided between your heirs. A Simple Will is a good option for those under 50 years of age who do not have many assets and do not expect the Will to be contested.

On the other hand, a Complex Will may be appropriate if you have a large family and/or many assets. A Complex Will is a good option if you:

  • Have assets valuable enough that they will be subject to estate taxes
  • Own a business
  • Expect to accumulate additional assets
  • Want to set up a trust that gives your children a certain amount of money at a specific age
  • Desire to create a joint will with your spouse
  • Have a previous spouse and/or children from that previous marriage
  • Desire to create a special needs trust for a handicapped child

What is a Trust?

A trust is a legal document in which a trustor gives a trustee assets to hold on to for beneficiaries. A trust is an important part of estate planning, and is particularly beneficial to those who have more than $200,000 in assets and are looking to simplify the probate process following their death.

What is Digital Asset Planning?

We live in a digital world, therefore, it is of great importance to protect your digital assets. Digital assets include any personal information that you store on your computer, phone or tablet. Examples include photos, email accounts, social media accounts, online banking accounts, etc. As with various other assets, your digital assets can be passed on following your death. Creating a digital asset plan will help make clear exactly who you want these digital assets to go to upon your passing.

How We Can Help You

The table below lists the various trusts and estate planning services that we offer to clients:

Trusts & Estate Planning Services

Simple & Complex Wills
Digital Asset Planning
Limited & General Powers of Attorney
Healthcare Power of Attorney
HIPAA Waivers
Living Wills
Revocable Living Trusts
Irrevocable Trusts
Life Insurance Trusts
Special Needs Trusts