Deciding what will happen to your home and other assets, including other real estate you might own, your bank accounts and your personal possessions after your passing can be a difficult process. If you do not prepare for the transfer by making your wishes known through various legal documents, the court will make decisions concerning what happens to your assets without regard to what your wishes might have been.
At Jonathan Olson & Associates we draft the appropriate legal documents including, but are not limited to:
When we prepare your will for you, you are referred to as the testator. You put in writing exactly how you want your assets to be distributed. You name someone you trust who will be your administrator and be sure your wishes are carried out.
There are several different types of trusts that you can set up to transfer assets to your heirs outside of your will and avoid tax consequences.
Health Care Directive
This is a document where you name someone you trust to make health care decisions for you when you are unable to make them for yourself. You specifically articulate what care you want and your wishes must be carried out.
Changes in ownership of property can be made while you are still living in such a way that you maintain control but are no longer an owner and taxes for your heirs are minimized.
Power of Attorney
This document names someone you trust to make financial and other decisions for you when you cannot make them for yourself. Within the document, you can limit the time for it to be in force and the type of decisions that can be made on your behalf.
At Jonathan Olson & Associates, we help you through every step of your estate planning and assist you with making the necessary decisions and determining how your assets will be distributed upon your death.