Estate And Health Care Planning
Today’s world can be an uncertain and frequently dangerous place to live. We cannot always anticipate or avoid accidents, disease or conditions that will disable us or worse. One thing that we can do is to eliminate or reduce legal problems for our family and friends by getting our legal house in order.
Learn more about the advantages of working with a lawyer to craft the right estate plan for you.
General Business Power Of Attorney
If you manage a business or family property, you may need this type of power of attorney. A general business power of attorney will allow a trusted person to manage your business affairs if you are temporarily absent or incapacitated or might be for an extended period of time. You have considerable flexibility in what can be done under this type of POA.
There are certain formalities that must be observed in signing these documents, so it is important that you chose an attorney who is familiar with them. For over 50 years, Richard Mays Law Firm PLLC has been preparing wills, trusts and powers of attorney for residents of Arkansas, and we can prepare your documents at a reasonable cost.
Wills And Trusts
There are all kinds and complexities of wills. Sometimes a simple will is all that is needed or wanted. Sometimes clients want to include provisions to cover possible contingencies or incorporate trusts within the will for beneficiaries who may be minors.
Where a persons’ property is more extensive, a trust may be recommended with an accompanying “pour-over” will, so that the trust becomes the dominant document. Property is transferred to the trust (which can be revoked and the property reconvened to the owner) and expensive probate of the estate may be avoided. However, the person establishing the trust can continue to enjoy the benefits of the property during his or her lifetime.
Health Care Power Of Attorney
Everyone, regardless of age, should have a health care power of attorney in which you name a person (usually a family member) to make decisions on your behalf should you become unable to make them for yourself. Most people do not want to be maintained in a vegetative state if there is no chance for recovery of a satisfying life. Without a health care power of attorney, your family may well incur additional expense to have your wishes carried out.