Last Will and Testament

Creating a will ensures your assets will pass according to your wishes during the Probate process. Your Will is a legal document in which you declare one or more persons to manage your estate and provide for the distribution of your property at death. If you own assets in your name, they will pass to the beneficiaries you have designated according to your Will. Without a Will, your assets pass according to the State’s rules, also known as intestacy. The court will oversee the administration of your Estate according to your Will through Probate

Power of Attorney

A Power of Attorney is a legal document in which you have appointed another person to act as your agent on your behalf. This gives your agent the ability to assist you with certain matters when you are unable, such as executing a stock power, handling a tax audit, maintaining a safe deposit box, and paying bills.

Your Power of Attorney becomes effective only after you sign the document. Your agent then has authority to control your affairs and finances on your behalf as you have outlined.

Charitable Planning

Charitable planning allows you to support a cause or charity that means something to you during your lifetime but also as an integral part of the legacy you can create in your estate plan. Charitable planning can accomplish multiple goals: providing for family and loved ones; supporting worthy charities; and minimizing tax consequences for yourself and your beneficiaries.

Revocable Trusts

A Revocable Trust is a contract between the Grantor (you), the Trustee (one you named to control the trust) and the beneficiaries (those entitled to benefit from the trust). You, as Grantor, determine how the trust will be operated and who benefits, how and when. Your trust permits you to be Trustee and gives you the right to receive full benefits from it. It permits you to keep total control and access to all your assets during your life, and provides for the distribution of your assets to your beneficiaries at your death. Creating a trust will allow you to stay in control, avoid court intervention and Probate upon death, keep your affairs private, and allow for quick distribution to beneficiaries.

Health Care Documents

A Health Care Proxy is a legal document that allows you to name an agent you trust to make health care decisions on your behalf should you lose the ability to make and communicate your own decisions. A Health Care Proxy becomes effective when you are disabled and unable to make medical decisions.

A Living Will specifies the type of medical and personal care you would want in the event of disability. Your Living Will guides your agent and doctors in making health care decisions.

Medicaid Planning

Medicaid planning utilizes a variety of estate planning techniques to protect your assets if you face a long term care event. Instead of your assets going to a nursing home or to pay in home care, through Medicaid planning, your assets can be preserved for your family or loved ones and Medicaid will cover your health costs. The best time to do Medicaid planning is well before you have a long term care need, when time is on your side and choices abound, but it’s never too late to plan.

Irrevocable Trusts and asset protection

Using an irrevocable trust allows you to minimize estate tax, protect assets from creditors, and provide for family members who are minors, financially irresponsible, or who have special needs. The use of irrevocable trusts allows for estate tax planning to minimize capital gains, income, gift, and estate taxes.

The necessity of creating an asset protection plan has never been stronger in order to preserve your assets during your lifetime and after you’re gone. There are many changes in life that can cause you to lose your assets including loss due to lawsuits, nursing home care, divorce or family indiscretions, giving away assets to your children incorrectly, and potential creditors.

Special Needs Trusts

Special Needs Trusts allow you to provide for family members or loved ones with disabilities in your estate planning so that your generosity benefits your loved one, without impairing his or her ability to receive other forms of support.  A Special Needs Trust is a discretionary trust designed to preserve governmental benefits for a disabled or aged beneficiary when they either inherit assets or when they receive assets through litigation or other unexpected sources. Distributions from Special Needs Trusts are designed to supplement the beneficiary’s public benefits, not supplant them.

Small Business Law

Seeking the advice of counsel when owning or managing a small business is imperative to ensuring your business thrives. Whether you are a sole proprietorship, a limited partnership, a limited liability company, or a corporation, Jennifer Hunt can assist you accomplish your goals such as business formation, restructuring, and dissolution; buying and selling businesses; and contract drafting and review.