Lewisburg Estate Planning

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An effective estate plan can protect your personal interests, your estate, and the long-term needs of your loved ones. A skilled Lewisburg estate planning attorney is essential to create a plan that addresses your unique goals. Some people believe that an estate plan is only necessary if you are considered wealthy, but anyone with any amount of personal property can benefit from an estate plan.

Wooton, Davis, Hussell & Johnson, PLLC, can help you create an estate plan that is legally valid, hard to contest successfully, and addresses your own personal needs. Our team can take the time needed to understand your unique circumstances and identify which estate planning documents may be the most important for you.

Basic Estate Planning Documents

When you create an estate plan, it can be made up of many documents, which enable it to be tailored to your specific goals and the needs of your beneficiaries. Each estate plan may be unique, but certain documents are common in an estate plan. These include:

1. A Will

A will is the most basic and foundational document in an estate plan. It lists the assets in your estate and the individuals or organizations you wish to benefit from those assets. A will also appoints an executor to administer the estate and a guardian to look after any minor children.

If you die without a will, your estate will be divided based on the state’s succession laws. This can be a long and costly process for your loved ones. It also may not reflect how you want your estate to be divided. Without a will, you also don’t have a say in who is responsible for the administration of your estate.

Alone, a will does not help your estate avoid probate. If you wish to better protect your loved ones from the expense and stress of probate, you need additional estate planning documents.

2. A Living Will

A living will goes into effect while you are still alive and lists your wishes for your care in case you become incapacitated and cannot make those choices. They are also called medical directives. These documents can state where you want to receive healthcare and the procedures you do and do not consent to.

3. Trusts

A trust lets you list your assets and their beneficiaries and place those assets into the trust as a legal entity. This keeps those assets from entering probate court after your death. Rather than waiting for the month-to-year-long process of probate, your loved ones can receive assets much more quickly and with fewer costs. The process can also be conducted privately, unlike the transfer of assets in probate. A trust can be irrevocable or revocable and can be used for different purposes.

4. Powers of Attorney
Powers of attorney place a trusted family member, friend, or professional in charge of certain decisions. These documents give them authority to make financial, legal, or medical decisions if you cannot make them. A medical power of attorney is often used in connection with a living will, and the individual can follow the instructions left in the living will.

Setting up powers of attorney can help you feel comfortable with your future and know that you and your estate will be cared for properly.

Estate Planning With a Trusted Professional

In order to receive the benefits of an estate plan, it must be legally valid. Contact Wooton, Davis, Hussell & Johnson, PLLC, today to learn how we can help you protect your future and your loved ones.

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