Does Estate Planning Benefit Me During My Lifetime?

Yes. Setting up a trust with accompanying financial and medical powers of attorney benefits you during life in the following ways:

• Protects you financially, by designating a trusted family member, friend, or professional to act in your behalf as your financial agent if you are ever disabled or incapacitated
• Protects your health, by designating a trusted person to act in your behalf as your medical agent if you are hospitalized and unable, because of a coma or other extreme physical condition, to make medical decisions for yourself
• Saves you money, by avoiding the need for expensive court proceedings to appoint a guardian or conservator to care for you or handle your finances
• Gives you peace of mind, knowing that those who will act on your behalf are trusted persons you have chosen, instead of being chosen by a probate judge
• With advanced planning you can safeguard your assets, by owning them through legal entities that provide protection from unexpected lawsuits and catastrophic financial setbacks.

What Are the Benefits of Estate Planning to My Survivors?

A combination of a will, trust, and related legal documents benefits your survivors in the following ways:

• Provides a roadmap for your survivors to follow when you “blast off”
• Makes sure that your property is distributed according to your wishes
• Names guardians for any minor children
• Provides financial management for family members or other survivors who need help with their finances
• Saves money, by reducing or eliminating probate costs, and estate and inheritance taxes
• Improves estate administration, because your estate will be administered by persons who you have chosen for their management skills and good judgment
• Avoids disagreements between survivors
• With advanced planning you can protect your survivors’ inheritance from unexpected lawsuits and catastrophic financial setbacks.