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Goshen Wills and Trusts

Planning for the end of life is difficult. It involves thinking about death and the thought of you or your loved ones dying. However, if you do not plan for this inevitability, what happens regarding your medical care and assets may not be what you want.

Goshen wills and trusts attorney Loraine P. Troyer can discuss with you the various options and help with questions you may have on how each of them works. While a brief definition of each of the major instruments used to plan for the end of life has been listed below, please remember that proper legal expertise is needed to determine which ones will best provide you and your family with the best outcome.

Wills

A will is a legal document that outlines an individual's wishes to be carried out upon his or her death. A will can address a variety of topics including:

  • Where and to whom an individual wants their ‘stuff’ to go
  • Names guardians and conservators for minor children and a representative to administer the estate

After an individual's death, the process of administering his or her Will is known as probate. We can help you prepare your Will as well as probate the estate after the client dies.

Contact us to see if a will is the right planning tool for you and your family. Also, learn more about the probate and estate management process.

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Trusts

Do you need a trust? The answer is not always as simple as ‘yes’ or ‘no.’ How much money you have is not necessarily the way to determine if a trust is needed. The truth is, there are numerous reasons to have — or to not have — a trust. It depends on what is important to you and what you want to accomplish.

Trusts can be used for numerous reasons:

  • Avoiding probate
  • Reducing or eliminating estate taxes
  • Providing and protecting money for children or grandchildren
  • Passing a business to the next generation
  • Protecting yourself or a spouse from nursing home expenses
  • Assuring that the family cottage is handled with care
  • Charitable purposes

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Power of Attorney

There two different types of Power of Attorney. One is a financial Power of Attorney and the other is a Health Care Power of Attorney. They both appoint a person or persons to handle either your financial affairs or your health care. Neither of these important legal devices removes nor reduces your ability to handle your own affairs.

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Living Will

A living will sets forth instructions to medical professionals, such as in a hospital or a doctor’s office. This legal device is vital if you are unable to make decisions or communicate decisions for yourself in the event of a serious medical condition. Not only will you receive the care you want, but also you will avoid exposing your family to unwanted medical bills that go against your wishes.

Please contact Goshen Wills and Trusts attorney Loraine P. Troyer for a free goals consultation regarding your estate plan or any other legal service we offer. You can contact us by email or call us directly at 574.534.2347. Our estate planning attorneys are here to help!