Wills, Living Wills, and Powers of Attroney
Drafting a legally binding Will is one of the most important steps that you should take in protecting your legacy, family and loved ones in the future.
A Will provides you with the power to:
If you already have a Will, you need to review your Will periodically; especially if and when there is a significant change in your life's circumstances. These circumstances include:
In case of any of the changes outlined above, you need to consult a lawyer and potentially amend/redraft your Will.
A Living Will is an empowering document that allows you to outline your wishes for end-of-life medical care, in circumstances of incapacity.
Having a Living Will not only preserves your control over your life, but it also acts as an invaluable guidance for your family and loved ones during a difficult period.
Power of Attorney for Property
Power of Attorney for Property is an important and necessary legal document that allows you to appoint a trusted individual to act on your behalf in relation to all financial matters and matters of property.
Power of Attorney for Personal Care
Power of Attorney for Personal Care is an essential legal document that individuals require in circumstances of incapacity. A Power of Attorney for Personal Care would allow a trusted individual of your choice to make all medical and care related decisions on your behalf.
As life is an unexpected journey, in our view, every individual needs to have at least a Will and Powers of Attorney for Property and Personal Care.
Administering someone's estate (obtaining probate, distributing assets, resolving debts, preparing estate accountings, etc.) can be overwhelming, time consuming and challenging.
In acting as the "Executor", "Estate Trustee", or an individual's "Guardian", it is crucial to be familiar with your rights and obligations/duties.
As an "Executor", "Estate Trustee" or "Guardian", you might want to apply to the court in order to delegate your responsibilities to another person or a trusted counsel.
If you need a lawyer to act as your "Executor" or "Estate Trustee", S.E.T Law can provide you with the appropriate and cost-effective support/service.
Trusts are considered to be effective, tax-efficient tools for preserving assets.
If you are planning for your children's education, the care of a dependent with special needs, or charitable givings in the future, you might need to create an appropriate trust that could achieve your goal.
Trusts must be carefully crafted so they could work effectively and at the same time, achieve their tax-savings objectives.
If you are thinking of:
you need to consult a lawyer in order to find the most effective and tactful strategy that is legally available.