- GuardianshipWhile estate planning is more complicated for people who have more assets, the distribution of assets is only one part of estate planning. Estate planning involves not only the things you leave behind after your demise but also your healthcare wishes, the authority for others to make decisions for you if you are unable to do so, and the guardianship of your children. Tom has experience with drafting special needs trusts and the related planning for those trusts. Estate planning is an important part of life that, when addressed with consideration and care, provides security and peace of mind for you and your loved ones.
- Estate PlanningEstate planning is a big step and can be a confusing process. At Luckenbill Law Firm, we strive to make this process as simple as possible, so we’ve laid out our step-by-step process so you know what you can expect.
- WillsThe next step is to schedule a face-to-face meeting. Most competent attorneys will want to meet with potential clients in person, and, assuming that the consultation is for estate planning, the first meeting is at no cost or obligation. At this consultation, you will discuss the estate planning tools and strategies that are available and appropriate for you as well as the fees associated with them. For example, most clients decide that a living trust is inappropriate for their needs, and, after further discussion, feel that a last will and testament is adequate. As you might expect, the time involved and legal fees associated with a living trust tend to be higher than those associated with a will, but your needs and not the price tag should be at the forefront here. These are important documents that will serve you for years to come.
- TrustsDocumenting what you own, such as bank accounts, investments, real and personal property, life insurance, and nursing home insurance, is what most people think of first when it comes to estate planning. It’s important that everything you own is documented in your will or living trust. If you own real estate in Boone County, Luckenbill Law Firm can access the records associated with that; outside of Boone County, the attorney will need copies of deeds that you provide.
- Power of AttorneyThe first step of estate planning is making decisions about what will happen to you while you’re still alive. Living wills, also called advance directives, specify what types of treatment you do and do not want wish to receive if you are unable to convey those decisions yourself due to illness or injury. A durable power of attorney is a document that grants the authority to someone you choose to make medical decisions for you even if you are incapacitated. Tom Luckenbill can help you navigate the process of choosing which healthcare documents are appropriate for your situation and what information should be included.
- Probate