The key to estate planning is a well-drafted will to outline someone's desires for their estate.

In recent years, the proliferation of non-probate transfers has complicated traditional estate planning.  These transfers refer to:  life insurance, retirement plans, joint tenancy accounts, and payable on death accounts.

The money from each of these vehicles is paid out to a beneficiary upon the owner's death pursuant to the provisions of a beneficiary designation card.  Because these assets pass according to the beneficiary designation, they pass completely outside of the parameters of the Will. Many times these transfers can have unintended consequences and should be carefully coordinated with the Will and assets.

It is important to note that proper estate planning also includes Powers of Attorney for finance and healthcare, as well as a Living Will giving your doctor instructions in the event you need life support.

Powers of Attorney are used to allow you to designate another person or persons to make medical and financial decisions for you in the event you are alive and unable to make those decisions for yourself.

Although the Powers of Attorney cease to be effective once someone dies, they are critical to have in place if something happens causing incapacity prior to death.

Barry can handle your complete Estate Planning to include:

•  Durable Power of Attorney
•  Healthcare Power of Attorney
•  Living Wills
•  Wills