Preparing for death, which can be difficult to think about, is an aspect of life in which you can work to mitigate taxes, while providing for your children and other heirs. It’s also wise to make plans for your end of life care in the event you are unable to communicate. That way your wishes can be known and followed by those caring for you. Estate planning is not just for those with million dollar estates. Estate planning is for everyone.
We can help you provide directives for the distribution of your assets, medical decisions, and possible long-term care needs.
Select someone to handle your affairs after you pass away and direct to whom your assets should go.
Select who will take care of and be in charge of your minor children if neither legal parent is living.
Select someone to handle your affairs if you are no longer able to make the decisions yourself (coma, Alzheimer’s, or other absence from the area).
Select someone to make medical decisions for you in the event that you are unable to make them yourself and tell that individual your wishes.
Select a Trustee who will manage your assets during your lifetime and provide specific directions as to how to distribute those assets when you die. Unlike a will, a trust can reduce or eliminate estate taxes, plase limitations on when distributions will be made (certain ages or milestones), or provide protection for those with special needs.
You may think you do not need a will because you own little or your assets are all held in joint accounts or have specifically named beneficiaries. However, future assets may be acquired through inheritance, gift, or by winning the lottery. Putting your wishes in writing though a valid will or trust helps to ensure that your desires will be known and honored after your death.
If a person dies without a valid Will, Delaware law determines who inherits the estate. That can be problematic if you wanted your class ring to go to your high school sweetheart or a piece of heirloom jewelry to go to a family friend.
Preparing your Will online or via a stationary set through your local office supply store can be equally as problematic. Often those programs are not state law specific. They do not know of any intricacies in Delaware law. Further, they don’t always know all of the right questions to ask. Issues needing special attention may include:
Carr Law, LLC provides services to individuals and families drafting basic wills, Living Wills (also called Healthcare directives), Powers of Attorney and establishing simple estate plans. We understand that each of our clients concerns, needs, and goals are unique. We are responsive to our clients’ individuality and take the time to listen carefully. We offer a variety of basic estate planning tools that can provide you and your family with peace of mind. At our office you will deal directly with an attorney. No paralegal will be drafting your documents. Have your documents drafted with the confidence of knowing your future needs are met as well. Our office offers one free change per document per year, free of charge.
If you want our office to help with your Estate Planning, please click on the link below to download our Estate Planning Questionnaire that will help you identify all of your assets and help you begin to think about how you would like them distributed. Please bring this form to your initial consultation. If married, have each spouse fill out their own form.