Yes! Here is what will happen if you do not have an estate plan:

• If you are married and have children, your spouse will not inherit all of your estate
• Your assets and personal belongings will be distributed without regard to your personal wishes;
• A judge will decide who will administer your estate (who will be your "Personal Representative"), not you;
• Your Persoanl Representative may ahve to purchase a bond and deal with ennecessary procedural hurdles:
• A judge will decide who will care for your children, not you. The judge may even choose a stranger;
• You will not be able to give assets to charity;
• You will not be able to take advantage of opportunities to minimize death, estate, and other taxes

Sadly, most people pass away without even a simple will, and they have all of these problems and more. An estate plan at a minimum will address all of these issues, but most importantly, it will put YOU in control of your assets and enables YOU to make decisions that will be best for your loved ones.

What Is Included In An Estate Plan?

Taking care of things after you die is only one piece of the puzzle. A solid estate plan will take care of you and your oved ones before you die, too. It should be customized to fit your unique situation, and may include many of the following documents or techniques:

• Will - A will is the most basic and important estate planning document. It deals with all of the issues above and controls how certain assets in your estate are handled. Some assets, like joint property and life insurance, can be speedily distributed without a will. We can assist you in making sure these assets are managed properly as well.
• Trusts - We will help you decide if a trust is appropriate for you. A trust is an estate planning document that can be used for a wide variety of objectives during your life and after your death. Some of these include:
  • Management of your assets if you are disabled
  • Reducing estate taxes
  • Avoiding the probate process
  • Minimizing COurt involvement in your affairs
  • Speeding up administration of your estate
  • Providing for inors or other persons unable to manage their own affairs
  • Keeping administration of your estate private
• Powers Of Attorney - These documents are only effective while ou are alive and enable you to appoint someone else to manage your affairs. They are useful if you are incapacitated due to illness or injury or if you simply need some help as you get older. Not having one can cost thousands of dollars if something unexpected happens. Everyone, young or old, should have one!
• Advance Medical Directive - This document serves many purposes. One part, also called a "living will" containsyour instructions on what measures you want taken if you are extremely ill. In addition to directions concerning life support for an extended period, you can include instructions on many other medical and ethical issues. It insures that your care is based on your moral and religious beliefs, not somone else's. The second part is known as a Health Care Power and is similar to the general Power of Attorney described above. This lets you appoint someone else on your behalf to make health care decisions and view confidential medical records on your behalf if you are unable to do so yourself. you may sign either or both portions of the Advanced Medical Directive.