Far more than just wills: the broad scope of estate planning

On Behalf of | May 13, 2019 | Estate Planning | 0 comments

Hesitancy, misconceptions and sometimes even a bit of fear.

That is the emotive take of many people — both in Northwest Oregon and across the United States — when they turn their thoughts to estate planning.

We get that at the established Albany law firm of Healy & McCann, where probate and estate administration are main practice areas for our deep legal team.

After all, we readily concede, “people don’t enjoy dwelling on eventualities like incapacity and death.” Moreover, legions of would-be planners balk at proactivity because they believe that estate considerations pretty much start and end with will creation. And that is something they associate with individuals of advanced age.

In fact, sound and timely estate planning spells an opportunity that pays meaningful dividends for individuals and families spanning every age spectrum. Arguably, too, it benefits youthful planners as much as any other demographic.

Wills do of course play a central role in planning. A tailored and periodically updated will is a planner’s blueprint for key matters ranging from desired asset distribution to strategies aimed at lawfully minimizing tax burdens.

Wills and other estate documents can also work together in impressively integrated ways, though, that promote planning goals across a broad spectrum.

A proven estate planning lawyer can help a planner draft powers of attorney relevant to finances and future health care in the event of incapacity. Experienced legal counsel will also be sure to focus attention, when applicable, on child-centric concerns like guardianship designations. Trusts can be dynamically flexible legal instruments for promoting myriad aims (moreover, they avoid the probate process and safeguard privacy interests).

We stress on our website that many individuals and families that initially balk at planning ultimately “enjoy the peace of mind that comes with sound legal and financial planning.”

We welcome readers to our blog. Healy & McCann hopes that you find our future estate planning posts to be both informative and personally relevant. We welcome contacts to the firm.