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4 Estate Planning Tools to Consider (part 2 of 2)

July 25, 2011 by John Potter

If you’re just beginning to consider your estate planning needs, you should look into the use of different documents and tools. This will allow you to develop a plan that meets all of your needs.  Take a look below to better understand some of your options.  If you have any questions, or if you’d like to start your estate planning, contact an estate planning attorney.

  • Create a living will

If you’re looking to have more protection during possible incapacity, it’s a good idea to execute a living will.  This legal document allows you to outline your wishes regarding end of life treatments.  Many people use this document to make choices regarding the use of life support.   If you want to ensure that your wishes are respected, you should create a living will.  Your wishes must be in writing.

  • Create a revocable living trust

Are you looking for a way to avoid the probate process, and ensure that your beneficiaries receive their inheritances more quickly?  You may want to consider the use of a revocable living trust.  With this tool, you’re able to title the assets in your trust so they are held in your trust and controlled by the trust’s terms.

You can also decide how your assets are distributed as well as who manages your assets after your death.  This is a great way to save time, money, and keep your affairs private.  Other benefits include incapacity planning, pet planning, special needs planning, and inheritance planning.

It’s important to note that a revocable living trust is not a substitute for a will.  You still need a will.

Take the time to meet with an estate planning attorney so you can fully discuss your needs and goals.  Your attorney will be able to develop a customized plan that works for you.

  • About
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John Potter

Latest posts by John Potter (see all)

  • What Type of Trust Protects Assets? - February 20, 2019
  • Our Ashland Trust Attorney Explains How a QTIP Trust Works - February 18, 2019
  • What Happens If I Leave Assets Out of My Living Trust? - February 15, 2019

Filed Under: Estate Planning Tagged With: Estate Planning Documents, Estate Planning Tools

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Testimonials

My husband and I selected Ms. Potter to assist with our small business. She responsive and attentive every time I have a question or need assistance, and is extremely knowledgeable and able to answer any legal question I have had. I know I can count on Ms. Potter for all of my business legal needs and I would highly recommend her to anyone needing legal assistance with such.
Jillian
Overall The Potter Firm was very professional. They took what could of been a very complicated process and were able to break it down so it was a lot easier to understand. We are confident we now have made the right decisions in our estate planning. Good firm to work with.
DKS & KMS
John Potter has been a real pleasure to work with. He is very knowledgeable and explains things in a very simplistic manner so the average person can understand how/why the laws are written. He is very attentive and asks questions in such a way that not only helps him understand your goals, but also helps you think about what type of goals and expectations you should be considering. Exemplary client service.
David J.

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Phone: (606) 324-5516
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