Definition of Living Will A living will is a document in which you will provide what kind of medical treatment you want in end-of-life situations such as a terminal illness or a coma. When you draft a living will, you can designate a person to carry out your wishes to doctors and other third parties.
Definition of Revocable Trust Revocable trusts have become synonymous with probate avoidance, cost savings, and other benefits. Revocable trusts can definitely offer benefits depending on the types of assets you own and the number and type of family members involved in the equation. Despite, these benefits, it is necessary to understand collateral issues related to…
People often ask whether a will is absolutely necessary. Estate planning has so many facets depending on the type of property involved and the identity of the heirs, whether homestead property is involved, that it is impossible to provide a simple answer. Generally speaking, it is best to always have a will as a back-up,…
A powers of attorney is a document whereby an individual (“the principal”) designates that another person (“the agent” or “attorney in fact”) has powers to act for the principal in a variety of situations. A power of attorney must be executed by the principal and subscribed by two witnesses, and it must be notarized. The…
Probate Attorney In layman’s terms, probate is the legal mechanism used to distribute the property of a person who has passed to the heirs or beneficiaries and by which creditors of that person are paid (people to whom the decedent owed money)to the extent assets are available to pay these claims. There are many steps…
