Leaving a legacy is not just for celebrities, it is for every single person that walks the streets of this world. Everyone’s goal in life is to be remembered and to leave behind a legacy; this is your chance to do so. Annutto Law Office is dedicated to helping you formulate a plan so your wealth and assets will be protected from creditors making your legacy live on for generations. These steps prepare you to have control with passing on the family legacy to the next of kin or loved one in the event of you passing.
Medicaid planning is an essential part of estate planning; this prepares you so everything you have worked hard to save doesn’t end up being spent on medical care. Medicaid provides coverage for necessities most insurance companies do not cover such as, short term and long term nursing home or at home care, but Medicaid is very specific about who they will provide coverage for. It is important to make a Medicaid plan in advance to ensure your eligibility; this will enable you to get the care you need when it becomes necessary. Annutto Law Office is dedicated to assisting clients in protecting their assets and by making intelligent decisions for a stronger future.
What happens to your assets between the time of your passing and when your loved ones receive them? They go through a process at Probate court. First, you name an executor in your will, that person will be the one that holds on to your items and will distribute them at the end of the process. The executor is the one in charge of contacting the creditors about the passing. In probate, the validity of the will is determined and the deceased debts will be settled before the assets will be able to go to the heirs. Annutto Law Office provides remarkable representation and makes solid legal arguments to protect your interests.
Living Wills are similar to standard Wills in that they make your wishes legal and enforceable. The difference is in the name, this will is enforced while you are still alive. If you are or become disabled, but not terminally ill, you may name a loved one as your advocate; this will give them the authority to make decisions about your health care. If you are terminally ill, the Living Will gives you an opportunity to decide on end of life choices before you are unable to communicate your wishes yourself. This includes religious requirements, decisions to pass away naturally, provision or denial of life support, denial of specific medical treatments, and revival. If there is not a Living Will in place, there could be frustration, miscommunication, indecision, and disagreement between your family members. Annutto Law Office is devoted to helping clients foresee the future and possible scenarios to give you a better understanding of what choices to make in your Living Will.
Durable Power of Attorney for Financial Affairs
A Durable Power of Attorney for Financial Affairs is a document that you create which nominates a representative to act for you in matters of your financial affairs. This person will have the authority to buy and sell assets, file your taxes, and handle all other finances. It is essential to have a Durable Power of Attorney for Financial Affairs in case you become disabled or incapacitated, to help protect you and your family from taking these steps through the court system later on. Annutto Law Office has a team of highly accomplished attorneys that will provide information to help create and later enforce the instructions you have left.
Durable Power of Attorney for Medical Care
Creating a Durable Power of Attorney for Health Care allows you to select a person to make any and all medical decisions when you are unable to make those decisions on your own. Annutto Law Office can help you in identifying an agent and leading you in the correct direction. It is significant to have the living will in place with the Durable Power of Attorney for Health Care so the agent can communicate what your wishes are through your Living Will. Annutto Law Office will ensure your Living Will and Powers Of Attorney for Health Care are coherent with one another and provide the education needed to understand all aspects of this document.
Revocable trusts are the most common kind of trust people who are estate planning use. It is a trust that has two phases to it. Phase one happens while the person who designed the trust is still living. The beneficiary of the trust can transfer any assets they may have, including cars, homes, other real estate, bonds, stocks and so forth. When these assets are transferred the creator of the trust can use these assets in the same way they did before they were owned by the trust. The second phase starts when the creator of the trust dies. It functions much like a Will; the trust distributes the property of the deceased to the loved. If there is a trust in place at the time of death, family members can skip Probate Court and directly receive their inherited items.
Irrevocable Trusts are beneficial to you in your Estate Planning because it gives you the option of putting assets you no longer want into this trust and your ownership and responsibilities will be terminated. This is beneficial because when you pass your family will not be responsible for paying taxes on those particular assets. Unlike revocable trusts which protect cars, homes and stocks, this trust is for businesses, life insurances, cash, and investments. Once you create this kind of trust there is no modifying it or revoking it. Annutto Law Office will help you decide on which trust is the best fit for you and go into detail to ensure you are making a competent decision.
We take a holistic approach to working with seniors and their families from estate planning to long term care. You need a team of professionals that can address your legal, medical, financial, social and family concerns. Let us help create a plan for you and ensure you are connected to those individuals who can help you with each step.