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Legacy Planning

LADIES IN LAW® are experts in personalized Wills, Trusts, and Power of Attorney documents.

 

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What is Legacy Planning?​

 

Legacy Planning is typically called Estate Planning but we call it Legacy Planning instead because it involves your entire Legacy. With a Legacy Plan, you protect your assets and ensure your family members are cared for after you pass away. You can also select someone to make healthcare and financial decisions for you if you ever become incapacitated. 

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​What is a Legacy Plan?​

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A Legacy Plan is a package of custom documents, including a:

  • Will

  • Living Trust

  • Financial Power of Attorney

  • Medical Power of Attorney

  • Living Will

  • Healthcare Directives

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All of these are legally binding documents where you set the rules for your Legacy instead of the State or the court deciding for you.

Legacy Planning documents include:

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  • WILLS - a legal instruction manual to the probate court and your loved ones where you:​​​​

    • ​Determine how your assets will be distributed after you pass

    • Designate a guardian for your minor or dependent children​

    • Choose who will be in charge of administering your estate

 

 

  • TRUSTS - a legal entity with instructions for your loved ones where you:​​​​​

    • Ensure your assets avoid probate court

    • Keep full control over your property during your lifetime and after​

    • Choose who will be in charge of your estate

    • Provide your disabled child an inheritance while they also receive government benefits

    • Shelter your assets from long-term care expenses

    • Prevent real property transfer tax assessments

    • Set specific conditions and parameters for receiving your assets

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  • POWERS OF ATTORNEY - a legal designation where you: 

    • Give someone you trust authority to make important financial and medical decisions for your if you are unable to

Legacy Plans are critical for asset protection and building generational wealth.

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  • CONTROL - With a Legacy Plan, you control exactly where your assets go after you pass away. This means you prevent certain people from receiving them or fighting over them.

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  • PRESERVE - Legacy Planning preserves your assets by ensuring that your beneficiaries use their inheritance wisely and in accordance with your wishes.

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  • DECIDE - You decide, in your Legacy Plan, who can make important financial and medical decisions for you if you are unable to.  Without a Legacy Plan, the court makes this decision instead of you.

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