04. Estate Planning
Estate planning is the best gift you can give your loved ones. Take care of it so they do not have to!
Estate planning involves preparing Wills, Trusts, Health Care Directives, and Powers of Attorney.
What is an estate?
Nearly everyone has an estate. An estate is comprised of everything owned by an individual including cars, home, bank accounts, investments, life insurance, furniture, personal possessions, etc.
What is a Healthcare Directive?
A health care directive is a written document that informs others of your wishes about your health care. It allows you to name a person to make healthcare decisions for you if you are unable to do so.
What is a Power of Attorney?
Similar to a health care directive, a Power of Attorney is a written document that allows another person to act on your behalf. A Power of Attorney can be limited to certain powers or it can be very broad. A Power of Attorney can give another person the authority to handle your finances and make other decisions on your behalf.
When do I need to consider estate planning?
It is best to plan early. Although people tend to think about estate planning more as they get older, we cannot predict how long we will live. Illness and accidents happen to people of all ages.
Why do I need to consider estate planning?
If you do not have an estate plan, the State has one for you and will determine how your assets are transferred. If you have children and do not plan for a guardian for your children, the State will appoint one for you.
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Are you dealing with a complex legal issue? Let Schull Law help you. Contact us online with your questions and concerns or call us today at to schedule your consultation. From our main office in Grand Forks, we serve clients throughout North Dakota and in western Minnesota.