Hammelman Law, PLLC assists individuals in creating complete estate plans. You will discuss your needs and your goals for your estate plan with Melanie and she will offer her opinion of what steps should be taken and what type of estate planning documents would be best for you and your family.
Who Needs and Estate Plan
Everyone needs an estate plan! Whether you're single and want to make things easier for your siblings, nieces and nephews, or pets when you pass OR you are married with children (or perhaps even grandchildren) you would benefit from and estate plan. While a Family Estate Plan and an Individual Estate Plan may seem very different, the real different is just who you are planning to leave your assets to.
Hammelman Law assists individuals in creating an estate plan, based on your specific family circumstances. The basic component of any estate plan is a will. This is the document that tells the court what assets remain in the estate to be probated and what assets should be given to specific individuals, groups of individuals, pets, and/or charities. Hammelman Law provides a Durable Power of Attorney, Medical Power of Attorney, and a Living Will for all estate plan clients, at no additional charge. Melanie believes these documents are important to round out the estate plan and allow the client to specify what should be done in the instance of incapacity or allows the client to designate a person who may be able to act for them even while their faculties remain intact.
Hammelman Law assists individuals in creating a variety of trusts such as: Revocable Trusts, Irrevocable Trusts, Special Needs Trusts, NFA trusts, etc. The major benefits of trusts include avoiding probate, increased privacy of your assets, and a great amount of control over the use and disbursement of your assets after your death. Trusts allow you to have greater control over the assets in your estate, and give you the ability to be more specific about who gets what and when. You have the ability to allow the trustee to make certain decisions, or you can specify exactly what you would like the assets to be used for. Some common examples of trust provisions are: specifying that the funds or other property in the trust should be used to pay for health, education, housing, etc. for your beneficiary(ies) or mandating that the trustee to keep a specific piece of real property for the beneficiary(ies) so that they may determine whether they want to live in the real property or sell it at a certain age.
Some of the types of trusts you may want to consider for your estate plan include, but are not limited to:
Revocable Living Trust
Special Needs Trust