Estate Planning

Kendrick Law prepares simple estate plans for individual clients. The estate plans created by Kendrick Law can include the preparation of a Last Will and Testament, Trust Creation, Preparation of a Living Will, Preparation of a General Durable Power of Attorney, and Preparation of a Health Care Power of Attorney.

The estate planning documents prepared by Kendrick Law will not address complicated estate planning issues nor will the documents be designed to minimize estate taxes. At our first meeting, when we discuss your estate planning needs, if those needs fall outside of the simple estate planning offered by Kendrick Law, you will be referred to an Attorney who specializes in the type of estate planning that best suits your needs.

Last Will and Testament: A last will and testament is a legal document that states how a person wishes their assets to be distributed upon their death.

Trust Creation: A trust is a legal contract that ensures your assets are managed according to your wishes during and after your lifetime.

Living Will: A Living Will allows you to instruct health care providers of your desire for medical treatments to be withheld in the event that you are injured or become ill and that your resulting condition is determined to be terminal and incurable or if you are diagnosed as being in a persistent vegetative state (ie. permanent coma).

Health Care Power of Attorney: A Health Care Power of Attorney allows you to appoint an individual as having the authority to make health care decisions in circumstances where you are not able to communicate such directions (ie. when you are unconscious or otherwise incapacitated).

General Power of Attorney: A General Power of Attorney designates an individual who can act on your behalf and sign legal documents for you when you are either unable, or when it is not convenient for you to appear in person. This document will specifically identify the types of matters you wish to authorize your designee to have such powers and can be limited to very specific purposes. If you wish, this document can me drafter in a way that it only takes effect upon being declared as “incompetent.”

Please contact us if you want to discuss having Kendrick Law prepare a Simple Estate Plan for you.

EVERYONE NEEDS AN ESTATE PLAN.

Creating an estate plan is important for several reasons, regardless of your age or financial status. Below are some key reasons why you might need an estate plan:

Distribution of Assets: Specify Your Wishes: An estate plan allows you to specify how you want your assets to be distributed after your death. Without a plan, your assets may be distributed according to state laws, which might not align with your preferences.

Guardianship for Minor Children: If you have minor children, an estate plan allows you to name a guardian who will take care of them in the event of your death. This ensures that your children are raised
by someone you trust and in an environment you would have chosen.

Avoiding Probate: Save Time and Costs: Proper estate planning can help your heirs avoid the probate process, which can be time-consuming and expensive. By using tools like living trusts, you can streamline the distribution of your assets.

Minimizing Taxes: Estate planning can help minimize the tax burden on your estate, leaving more for your beneficiaries. There are various strategies and tools available to help reduce estate taxes, such as the use of trusts.

Healthcare Decisions: An estate plan often includes documents like a living will or a healthcare power of attorney. These documents allow you to specify your wishes regarding medical treatment and appoint someone to make healthcare decisions on your behalf if you become incapacitated.

Financial Management in Case of Incapacity: Designating a financial power of attorney allows someone to manage your financial affairs if you become unable to do so yourself. This can be crucial for handling bills, investments, and other financial matters.

Business Succession Planning: If you own a business, an estate plan can include provisions for the
smooth transition of the business to heirs or partners, ensuring its continuity.

Protecting Beneficiaries: A well-structured estate plan can provide protection for your beneficiaries from creditors and other potential threats to their inheritance.

Expressing Personal Wishes: Your estate plan can include your preferences for funeral arrangements and burial, providing clear guidance to your loved ones during a difficult time.

Peace of Mind/Reduce Family Conflict: An estate plan helps reduce the potential for family disputes and conflicts by clearly outlining your wishes and intentions.

Regardless of your age or the size of your estate, having an estate plan in place ensures that your wishes are known and that your assets are distributed according to your preferences, providing peace of mind for you and your loved ones.