At The Law Office of Nathaniel Gilbert, LLC, most estate planning is conducted on a flat fee basis. This means that for our Bear Proof Estate Plans there are no unexpected costs, no surprise bills, and complete and total predictability regarding exactly what you will pay for and what you will receive. But how exactly do you know which category you fall in to when looking at the different plans that we offer and what you will receive in that particular category?
Last Will and Testament for Single Individual, No Children
This category is fairly self-explanatory: A single individual with no known children. Perhaps you’re a late 20’s young professional with no known children, no spouse, and very modest assets. You’ve just graduated college or trade school, have nothing but high hopes about the future, and the absolute last thing on your mind is end of life planning. We totally understand that, because we’ve totally been there. However, even if your largest asset is your laptop, a simple will with powers of attorney and medical directives drafted by an attorney is still a really great idea. No one wants to put their parents or siblings in the position of having to make an end of life decision—A medical directive can make the decision for them and give your family peace of mind knowing that they did exactly what you wanted to have done. Similarly, no person would ever want to make their family deal with disposing of their assets or dividing up your finances (however meager they may be)—A simple will takes all the guess work out of this process and lets your family rest assured they did everything how you would have wanted it.
Last Will and Testament for Married Couples
Marriage presents some complication, and some easy answers for estate planning. In general, the estate of a deceased spouse goes to the living spouse, but several considerations should be made before opting for the default option. Considerations such as Disclaimer Wills, where the estate of the deceased spouse is held in a disclaimer trust and thus not calculated as part of the surviving spouse’s estate upon their death, can have drastic effects and beneficial tax advantages on future estate planning. Additionally, providing for children in the way of guardianship as well as simple trusts for assets when both parents pass away are essential pieces of even a simple estate plan. Suffice it to say, taking advantage of being able to plan for the unthinkable can provide invaluable peace of mind for growing families.