A Last Will and Testament, commonly known as a "Will", is a planning document administered through the Probate Court in which you choose the who/what/how pertaining to your assets after you are deceased.  The Will states who will manage your estate, who will receive your estate and how they will receive it.  If you have minor children, the Will is also where you name Guardians to care for any child who may be under age 18 upon your death.   

A Revocable Living Trust is a planning document which allows you (the Trustmaker) to transfer ownership of certain property to the Trust to be managed by a Trustee of your choosing for the Beneficiaries of the Trust during your lifetime and after your death.  

The Trustmaker chooses the Beneficiaries of the Trust, so most often you as the Trustmaker (and perhaps your spouse/partner) will be a lifetime Beneficiary of the Trust.  Very commonly, you as the Trustmaker (and perhaps your spouse/partner) will opt to serve as Trustee for so long as you are alive and mentally capable. 

Commonly, you as the Trustmaker (and your spouse/partner) are the Beneficiaries of the Trust while you are living.  Should you become incapacitated the Trustee you have selected then continues to manage the Trust property for your benefit (and often that of your spouse/partner – and perhaps even your minor children).  After you, the Trustmaker, have deceased, the Trustee you selected then manages and distributes the Trust property to and amongst the Beneficiaries you have chosen to inherit your property in accordance with your written instructions.  Most commonly, after the Trustmaker deceases, the Beneficiaries of the Trust are the Trustmaker’s spouse/partner, children, grandchildren and other family members or friends.  Sometimes the Beneficiaries may also include charities. There are numerous benefits to this method of planning, but some of the most typical reasons you may find the Revocable Living Trust is right for you is to facilitate a streamlined approach to the management and eventual transfer of your assets at all stages of your  life while avoiding the delay, cost, and lack of privacy of the Probate process.

While it can be a difficult decision to make, all parents of minor children should name Guardians for their children in the instance the parent is incapacitated or dies before their children attain age 18.  Guardians have legal authority to care for minor children and make legal decisions for them in the same manner as the parent would if the parent were still able.  Although all Guardianships must be officially appointed through the Probate Court, the process operates most smoothly when a parent has provided their own choice for the Court to approve rather than leaving it to chance for family members and/or friends to figure out (and perhaps even fight about) in the wake of a tragedy.

If you have been named a Successor Trustee or Personal Representative for an incapacitated or deceased loved one, we can help you navigate your fiduciary duties.  At the outset, Estate and Trust administration and settlement can seem daunting when already dealing with the
emotional stress and turmoil that can accompany these situations.  Duties generally include, but are not limited to:  

• Identification, management, consolidation and liquidation/transfers of assets
• Identification and satisfaction of valid debts
• Document Preparation and Probate Court filings
• Real estate transactions
• Trust administration
• Preparation and filing of estate tax returns

These documents allow you to choose someone to make health decisions for you should you be unable to do so (Health Care Proxy), and can also authorize loved ones to obtain protected health information from medical providers (HIPAA Release).  A Living Will (not to be confused with a Last Will and Testament) serves as a philosophical statement regarding your wishes as to the use of life support machines and other such measures.

A General Durable Power of Attorney is a planning document in which you can choose an agent to manage various financial and non-health related matters for you during your lifetime.  The GDPOA can be especially helpful during any period of incapacity a person may experience.