At the Gegan Law Office, one of the most rewarding areas of our practice is Estate Planning. This area of practice allows us to spot problems before they occur, like avoiding unnecessary expenses, taxes or fees. Everyone needs an estate plan! This is not just for wealthy older clients but even for young families with small children who are just starting out. You need to put a Plan into place! You have many responsibilities, but the one job you likely have avoided is making sure your plans are in place what happens if something happens to you. Notice we said “when”, not “if”. You may not know where to start, or even what questions to ask. We can help.
Planning is about keeping Control. Our goal is to assist you in maintaining control over your property in the event you are no longer able to manage your affairs, and then passing your assets on to whom you want, when you want, and how you want, all while avoiding every penny of unnecessary taxes, probate costs and attorney’s fees.
Your most valuable asset is your children! Your most important is goal is to protect and provide for your family, especially minor children, if you can no longer be there for them. Caring for your kids is more than just naming a Guardian for them. The Gegan Law Office can help you put into place a Family Action Plan, for what happens on Day One if something were to happen to you.
How do you want to be cared for? Use a Living Will, Advance Healthcare Directives and a Durable Power of Attorney to provide for how you want to be cared for if you can longer make decisions for yourself. You have a fundamental right to make decisions regarding your own health care, including refusing procedures which will only prolong the dying process and run up astronomical medical bills. Don’t make your loved ones grapple with these issues. Help them to help you, in the way that you want to be cared for. “Living Will, Advance Healthcare Directives and a Durable Power of Attorney”
Think about “Passing on your Values, not just your Valuables”. Estate planning isn’t just about passing on your assets. Consider using your Plan to pass on your Values (the importance that religion, hard work, education or “being your own boss” has played in your life), by using Trusts to control how your children’s inheritance is used. Provide for even adult children who face challenges related to substance abuse or other lifestyle issues by protecting their inheritance in a trust for their benefit.
Too many people have no Plan in place! Just having a plan in place for “what happens if something happens” already places you at the head of the pack for being a responsible head of your family. Don’t think that you don’t own enough, or you aren’t old enough to need an estate plan. Tomorrow is not guaranteed to us, and you don’t want your family to have to spend months or years picking up the pieces of their lives if “something happens”.