Estate planning may involve more than just a simple Will, depending upon one’s personal desires and financial circumstances. Proper Estate Planning addresses one’s particular lifetime needs and testamentary desires in the context of your best interests having first priority. Some of the areas to be considered include but are not limited to establishment of living and testamentary trusts, minimization of Federal and State taxes, transfers of real and personal property, transfers or sale of business interest and Powers of Attorney both general and limited, Living Wills and Medical Directives and the like.
Every person’s circumstance is different and must be treated as such.
As Lincoln proclaimed, ” the man who tries to be his own lawyer has a fool for a client”.
Worse than that, he risks incurring very substantial legal fess to correct and mend his errors.
Also Estate Planning includes assuring that the implementation and structuring of the necessary legal documents do in fact implements what one wishes to accomplish such as for the caretaking of the best interests of named beneficiaries.