On December 1st, Parents On Track welcomed back Attorney Caren C.M. Webb to continue her discussion on Living Wills; Trusts; and Estates. Attorney Webb’s Law Office (Where Legal Solutions Happen) is located in Washington, DC.
On November 3rd, Attorney Webb presented a seminar with valuable information about Basic Estate Planning and Tools: Wills; Living Wills; Power of Attorney; and Trusts. During the December workshop, Attorney Webb discussed how your estate is comprised of everything you own-car, home, other real estate, checking and savings accounts, investments, life insurance, furniture, personal possessions. No matter how large or how modest, everyone has an estate and something in common—you can’t take it with you.
When that happens—and it is a “when” and not an “if”—you probably want to control how those things are given to the people or organizations you care most about.
To ensure your wishes are carried out, you should provide instructions stating whom you want to receive something of yours, what you want them to receive, and when they are to receive it. You will, of course, want this to happen with the least amount paid in taxes, legal fees, and court costs. Prepare for the inevitable in advance. Attorney Webb explained-in more detail-the purpose of planning for your person and property in advance. During her presentation, she discussed Living Will - What you want to happen to your person, Separated spouse and/or estranged relationship, Non-legal spouse acting as spouse vs. Siblings - What access does this person have? and so much more.Attorney Webb agreed to send participants a checklist as an added tool.