Estate Planning Is More Important Than Many Realize
Are you married with children? Are you unmarried and cohabiting with a partner with whom you own assets jointly? Are you single with a child or children? Are you retired? Do you own a small business? Have you divorced recently? Do you have a child or grandchild with special needs?
If you fall into any one or more of those categories and own a home, own other assets that might not pass by virtue of a beneficiary designation, have not planned for the care and financial support of your children in the event you pass, or have not planned who will make health care decisions for you if you are incapacitated, then you must prepare a basic estate plan.
Without an estate plan, your hard-earned assets could be diminished by unexpected expenses, including taxes and court fees. Your property may be distributed according to probate regulations and possibly given to unintended beneficiaries. If you have children who are minors, their guardianship until adulthood may be decided by the courts.
The Significance Of An Estate Plan
An estate plan is critical to ensure that your assets pass in accordance with your wishes, to secure the care and support of your children following your death, and to ensure that someone you trust will manage those assets and your health care decisions in the event you are unable to do so while you are alive.
At The Law Office of Nigel M. Atwell, we prepare estate plans for individuals and couples in Washington, D.C., which include:
- Simple wills
- Trusts, including special needs trusts
- Health care directives
- Financial power of attorney
We have a unique interest in preparing estate plans for collectors of fine art. We also have experience handling disputes with long-term care insurance providers and long-term care, palliative care or assisted living facilities.
Many people put off developing their estate plan, some wait until it is too late. Some leave behind a legacy of frustration or confusion about their wishes that could have been avoided with a simple estate plan. We invite you for a free initial consultation to learn how we can help you prepare your estate plan. Email us or call The Law Office of Nigel M. Atwell at 202-899-1307 to schedule a consultation.