Not Sure What You Need?
If you are trying to select estate planning documents without the help of a licensed Indiana lawyer, the basic document descriptions below might be helpful. However, a better practice is to work with an knowledgeable estate planning lawyer to select, complete and properly execute your estate plan.
You do not create an estate plan for your own benefit. You do it for your family’s benefit. Leaving your family to sort out your estate without a plan is a burden no loved one should ever have to fulfill, especially when creating an estate plan is so simple! Although these matters are not fun for any of us to think about and discuss openly, it is one of the most important, thoughtful decisions you will make in your lifetime.
At Griffith Law Group, we understand that each individual’s needs and goals are unique. That is why we prefer to custom-tailor an estate plan just for you and your family. Here are some of the many helpful tools we utilize to ensure our clients pass on assets in a responsible way.
Last Will & Testament – The most commonly used estate planning tool. This dictates how your assets will be distributed after you pass away. You can also name guardians of minor children, trustees of any testamentary trusts for minor children, and your personal representative / executor.
Durable Power of Attorney – This gives someone the power to manage your financial affairs should you become incapacitated. Without this in place, a person would need to petition a court for guardianship before any decisions could be made.
Health Care Power of Attorney – This gives someone the power to make health care decisions on your behalf should you become incapacitated. Without this in place, a person would need to petition a court for guardianship before any decisions could be made.
Living Will – This provides doctors and your loved ones with instructions on what actions to take should you ever find yourself in a situation where death is imminent (e.g., on life support).
Finally, many of our clients are small business owners and because of this, we also routinely create business succession plans to aid our clients in passing on the family business according to their unique objectives.