If you’re over 65, it’s time to talk to an experienced elder law attorney about an estate plan. An elder law attorney can help you create a plan for your assets after your death, and during your lifetime, if you become unable to do so on your own. The Law Office of Claude S. Smith III, serving Charleston, WV and surrounding areas, can patiently walk you through all the options available to ensure that you have the best plan for yourself and your family.
WILLS, TRUSTS, AND ESTATE PLANS
If you’d like to develop an estate plan in Charleston, WV or surrounding areas, you need an experienced Wills, Trusts, and Estates Attorney. Simple Wills may be sufficient for very small estates, but if you have substantial assets, an elder law attorney can help you set up a sophisticated estate plan. For example, a revocable living trust lets you retain control of your assets and passes them to your beneficiaries without a probate proceeding. If you can’t afford long term care insurance, an irrevocable “Medicaid Trust” can be used to ensure that the expenses of long term care don’t erode all your assets. If you have adult offspring with severe disabilities, a special needs trusts can be used to improve their life without disqualifying them from receiving public assistance such as Medicaid. The Law Offices of Claude S. Smith III will patiently explain all your options.
LIVING WILLS AND POWERS OF ATTORNEY
A “living will” is a legally binding document that details how you would like things handled, should you become unable to make your own decisions. One of the most important parts of the document is the criteria that should be used to determine your capacity, so that your family is not subject to the stress of a guardianship proceeding. Living wills usually contain “advanced directives” giving an individual the legal authority to make medical decisions on your behalf, including “end of life” decisions. Powers of Attorney can also can give legal authority to an individual to manage your financial and other affairs, should you become incapacitated. The Law Office of Claude S. Smith III can help you craft your living will and powers of attorney and ensure that they are properly executed.