Estate Planning - Living Will - Special Power of Attorney

1
Estate Planning

• Website https//www.nexgentransfer.com/
• Call 9599445568

2

• Estate PlanningThe heart of estate planning is
  figuring out what will happen to their property
  when you die. But in addition to determining
  where a persons property should go, estate
  planning can also include decisions about their
  young children and their property, their taxes,
  avoiding probate, their health care during life,
  and what happens to their body after death.Most
  people who use their estate plan to determine who
  will get their property when the person will die.
  Wills are the most popular estate planning tool
  for the person because they tend to be simpler,
  less expensive, and more well-known from that of
  other estate planning tools.in todays world, one
  can make a will online. One can make a will
  online as it will save time for the person also.
  One can also use a living trust to name
  beneficiaries for their property. It means to
  have a living will. The living will mean when a
  person is alive, they can make their will. The
  main benefit of using a living will is that the
  property that passes through living trusts does
  not have to go through probate. However, most
  living trusts are more complicated and more
  expensive than most of the wills. It is another
  increasingly popular way to pass property to
  beneficiaries without probate and is to use
  transfer-on-death accounts, deeds, registrations,
  or deeds. If a person doesnt use their estate
  plan to determine what will happen to their
  property, it will be distributed through their
  states intestate succession laws. For many
  years, average families used their estate plans
  to avoid and inheritance taxes the taxes due on
  their estate when they die. However, the federal
  estate tax is now levied on only very wealthy
  estates whose worth are well over 5 million. So,
  most of the people with average-size estates do
  not need to worry about estate taxes.

3
(No Transcript)
4

• A few states do levy estate and inheritance taxes
  on smaller estates and if a person lives in one
  of those states and they have a substantial
  amount of property, one may want to use their
  estate plan to try to reduce or avoid these
  taxes. One can use their estate plan to name a
  guardian to care for their young children if both
  parents and their childrens other parent arent
  available. One can also name a property manager
  or custodian to look after their childrens
  property. Probate is another courts process of
  distributing a persons property after they die.
  For most estates, probate is one of the most
  unnecessarily expensive and time-consuming
  processes, so many people use their estate plan
  to avoid probate.One can also use their estate
  plan to make decisions about the health care they
  receive before they die. In a special power of
  attorney for health care, they can name a person
  to make health care decisions on their behalf
  when they are no longer able to make themselves.
  The special power of attorney is important too.
  And one can use a living will to set out in
  detail what kind of health care they would like
  to receive for example, if a person would like
  to receive all possible treatments under any
  condition, or if under certain conditions they
  would like to receive only limited treatments.

5
Thank You

• Website https//www.nexgentransfer.com/
• Call 9599445568