Estate Planning

Estate planning allows you, while you are still living, to decide where your possessions go and who they go to. Estate planning also includes assigning power of attorney, for managing property and making healthcare decisions, and a will for managing your property after death. A living trust can also be planned to help you avoid probate and to manage your estate during your life and after your gone.

Estate planning can help give you peace of mind and the staff at Farrar & Williams, PLLC is determined to help you build the best plan for you and your family. Your estate plan indicates how you want your assets to be managed during your life and after your death. By building a carefully considered plan, Farrar & Williams, PLLC hope to give you peace of mind and a confidence for your future.

Estate Planning Definition

DEFINITION: Estate planning is nothing more than being prepared for the possibility of illness or death within one’s family. Rather than leaving to chance the management of your assets accumulated over a lifetime of hard work, we recommend that you have a comprehensive plan:

OBJECTIVES OF ESTATE PLANNING:

  • Most families have the following basic estate planning goals:
  • Protection of you financial security
  • Probate avoidance
  • Estate tax reduction
  • Second marriage planning
  • Planning for high cost of nursing home care
  • Distributing assets in desired manner to your children
  • Planning for possible inheritances by your grandchildren
  • Disability planning
  • Health care planning (living wills, medical powers of attorney)
  • Protection of assets accumulated over a lifetime
  • Other goals unique to your family