While I am a fan of doing as much as possible without hiring assistance, it is abundantly clear that too many mistakes can be made when you engage in this process without the benefit of a guide. Simple but important questions arise that include:
- Do I need a trust to avoid probate?
- If I have a will is probate still required?
- I have beneficiaries listed on all of my assets. Do I still need a will?
- This is my second marriage. If I die before my wife, will my children from my first marriage still receive the things I want to leave to them?
- What is the importance of a health care directive?
- Do I need to give someone my power of attorney?
- What if I become incapacitated and have not prepared a health care directive or given someone my power of attorney?
- If I need nursing home care prior to my death, will I have to spend all of my assets to cover the cost of care and, if so, how can I leave assets to my heirs?
A Plan That Works For You
Getting answers to these questions and understanding your options may seem complicated or overwhelming. Feeling confused or overwhelmed will likely lead to putting off the job of preparing your estate plan. Having a guide is key. McCoy Legal Services will help you navigate the confusing aspects of the process and provide you framework for making the decisions that serve your interests.
I am Ray McCoy, and I have dedicated my practice to helping my fellow Minnesotans through the process in an informative and professional matter. Commit to the conversation and you will find that preparing your estate plan will be rewarding and beneficial to you and those you care about the most.
I can help you develop an estate plan that contains all the necessary documents, including:
- Wills and trusts
- Power of attorney
- Advance health care directives
- Transfer deeds
- Final authorization and instructions regarding burial
- Letters of instruction
Whether you need some or all of these documents depends upon your vision of how you want to manage your affairs when you are unable to make decisions for yourself. Also, you want to determine how and to whom you want to transfer assets when you die. The conversation is key to making sure your plan works the way you intend. Changes to your estate plan may be necessary as your life changes. We can discuss a strategy for revisiting your estate plan at regular intervals or when life changing events such as the birth of a child, divorce or remarriage occur.
Ready To Begin?
While estate planning on your own is possible, having a lawyer on your side will make the process much easier and more comprehensive. Schedule an initial consultation at my St. Paul law office today. Call 651-262-3019 or send me an email.
