Wills, Trusts, and Estate Planning - Thorp Purdy Jewett Urness & Wilkinson, P.C.

Wills, Trusts, and Estate Planning

A comprehensive estate plan is valuable to individuals at all stages of their lives. Such a plan is particularly important for individuals with children or who are reaching an age where health care and financial management may need to be taken over by another individual.

At Thorp Purdy, many of our attorneys have focused their careers on the estate planning process. This gives us the knowledge and expertise to deliver planning advice tailored to your unique circumstances.

Please contact us to schedule an initial consultation. At the time of scheduling we will arrange to send you an Intake Worksheet to bring with you to our first meeting. The Initial Consultation will be an opportunity for your attorney and you to get to know each other and discuss your goals and current circumstances. Depending on the complexity of your estate plan, it may be necessary to schedule follow-up consultations to further explore the options available to you. When we have prepared your estate plan, we will send draft documents for you to review. We will also schedule a time for you to come back to our office for a final review and signing of original documents.

Our attorneys can assist you to:

Safeguard your own financial security
Facilitate a smooth transition of assets from one generation to the next
Exercise choice and control over financial and healthcare decision-making

Wills and Trusts
- Planning for the future is a critical aspect of aging. Wills and trusts are planning tools that control the distribution of your assets and possessions upon your death. Our attorneys will work with you to determine which of these tools is appropriate for your unique circumstances.
  
  A will is a document that takes effect upon your death. The executor, or personal representative, named in the will has the responsibility to ensure that your assets are transferred in accordance with the will. This is accomplished through the process of probate.
  
  A trust is an agreement that allows a third party, or trustee, to hold assets on behalf, and for the benefit, of beneficiaries. Trusts are commonly used to avoid the probate process, for tax planning purposes or disability planning. However, there are many types of trusts and they can be created for a variety of reasons. Our experienced attorneys will assist you in determining whether a trust may be an appropriate part of your estate plan.
  
  It is important to remember that a comprehensive estate plan is more than a will or trust. A complete estate plan will also include an advance directive for healthcare, which nominates a representative responsible for medical decision making, and a financial power of attorney, which nominates a representative for managing your finances. Our estate planning attorneys will help you determine which of these tools are appropriate for your individual needs.

Planning for Incapacity
- In an effort to plan for potential future incapacity, a person can execute a financial power of attorney and/or an advance directive for health care. The purpose of the financial power of attorney is to permit an individual to leave a legally binding record of his or her choice for attorney-in-fact as to his or her financial decisions. Meaning, a person can designate who will make financial decisions on his or her behalf when given permission to do so or when one is unable to make his or her own decisions.
  
  An advance directive for health care is a statutory form. It permits an adult to leave record of his or her first and alternate choices for representative as to health care decision making and instructions. The form is broken into sections and permits the appointment of a health care representatives and the opportunity to leave instructions to the nominated representatives. Once the form is completed, the health care representative can then make health care decisions for the principal when the principal is unable to do so for him or herself.