Lake County Indiana Wills / Living Wills & Trust Lawyer
Will Attorney Serving Northwest Indiana
When you go to the hospital one common question they ask is if you have a living will. Many are not familiar with this term. They may have heard of people who have a will, but they might also think that is something only for the rich and famous.
Another term people have heard of is trust funds. Again, they may think that trust funds are something that the very rich set up. At our law firm, we want people not know that wills, living wills and trusts are something that help everyone regardless of their economic status. It is a good idea to learn how these instruments can help you and why our law offices are the place to establish them.
The Purpose of a Will - To most, the intention behind a will is to provide instructions on how to divide your estate upon your death. While that is one thing that a will does, it is far from the only thing - we can create a will that provides for many other things.
Getting it to the Right People – Without a will the distribution of the assets is up to the laws of the state you live in. The many different relationships that people have with one another today means that the fight person does not always get what you wanted them to. A will is the best way to make sure you give your estate to the people you want.
Providing for Children – The will can specify who has legal guardianship of any children you have. That guardian may also control the money you leave for your children until they can do it themselves.
Managing the Estate – many times the person in charge of the estate is not always the person you would want to do it. You can specify who is responsible for managing the assets of the estate in the will.
Providing for Charity – If you want some of your estate to go to charity, the will is the best way to make it happen.
Funeral Requests – if there are any things you want to do not want at your funeral, put it in the will.
A will protects you from having things that you did not want to happen from happening after you die. It is essential that everyone have a will regardless of how big their estate is.
The Purpose of a Living Will - A living will is also called an advanced directive. It is a document that provides information about how you want your end-of-life care. Modern medicine can keep people alive for a long time, even if they are not aware of what goes on around them or if their condition is not something they want to prolong. There are many ways to create a living will. Some people choose to do it on their own and it works out fine.
Having a will created will provide many advantages. We have the experience to make sure that it does not cause you any harm. Some people may think that their condition is hopeless and will not want any treatment. A good living will protect a person from making a mistake when the condition is not hopeless.
A good living will provides for a person as a durable power of attorney. This person can make decisions on behalf of a person who needs long term care and cannot do it themselves. It is important to make sure this part of the living will is done properly to avoid any problems.
The Purpose of Trusts - Trusts come in many forms and can do many things. They are not just something that rich people use to prevent their children from wasting money. We create a wide variety of trusts that serve many purposes; Insurance Trusts, Domestic Trusts, Purpose Trusts, Charitable Trusts, etc.
These are only a few of the ways that you can make sure the money you put into a trust works the way you want it to. People typically set up trusts for a specific reason.
Some of the reasons people have asked us to set up a trust include:
Managing Assets – When a person cannot do it on their own, setting up the trust will help
Distributing the Assets – It is easier to control the distribution of money when in a trust.
Privacy – A trust can protect your privacy even after you die.
Taxes – Placing money in a trust is one way to lower the tax burden you face.
Skipping Probate – Money in a trust is not subject to probate after you die.
Providing Future Care – A trust is one way to ensure the care of someone that may need help even after you die and can no longer provide the care. It also is a way to maintain disability benefits.
It is very important to make sure to set up a trust properly to get all the benefits it offers. Using the law is one way to make sure that a trust is done the right way and will accomplish what you want it to do.
For anyone that thinks a will, living will, or a trust is something that does not apply for the, we want them to know they are wrong. If you take some time to learn the purposes of these legal documents, you will quickly find out that it is something for you to consider.
Contact A Will / Living Will & Trust Lawyer For Help
Do you need the help of a will / living will or trust lawyer? Contact The Law Offices of Paul M. Namie, LLC for help. We offer free consultations and case reviews to evaluate your case. We have years of professional legal experience serving clients in a variety of legal matters. Please schedule an appointment by contacting our law firm - we serve clients throughout Northwest Indiana.