Estate planning can be complicated, personal and often emotional. It is important to plan how your estate will be managed and distributed after you pass away.
Whether you require a personal Will or a sophisticated Estate plan, we will work with you to ensure that your needs and wishes are accurately documented.
Planning for your family’s future after your death can be an unnerving task, but you do not have to endure the process alone. Alongside the advice and support of our lawyers, you will be able to ensure that your estate and family are well cared for in a way you chose. The preparation of your Last Will and Testament and Power of Attorney (Living Will) represents an important step in the management of your family’s financial and legal affairs, as well as, long-term well-being.
Our goal at Mann Law is to always provide you with sensible, thoughtful solutions that help take the worry out of estate planning. We will work with you to understand your needs and wants and provide you with personalized advice to ensure your wishes are carried out.
Wills and Powers of Attorney are essential documents that every person should consider having. They should be drafted and reviewed by a lawyer to avoid potential complications in an already difficult process. We encourage you to contact our office today to help you begin the process of planning for you and your family’s future.
Remember: Powers of Attorney (POA) are documents used during a person’s lifetime. A Will takes effect after a person passes away.
Estate and trust challenges are characterized by unclear areas of the law which involve parties who are in the midst of family conflict. Allow us to help. During such difficult times, it is important to have the support of experienced, dependable counsel.
If you find yourself in the midst of legal issues after a loved one’s passing or you are dealing with someone’s mental incapacity, consider giving our office a call. Our lawyers maintain a common sense, flexible approach in supporting our clients with often complex legal issues.
Many clients have a charitable or benevolent aspect to their estate planning. We have expertise in helping clients achieve their goals, both by recommending the appropriate gift to charity and by ensuring that the form of the gift best achieves the clients’ personal and tax objectives. For more information, call Mann Law today.
A trust is created to hold property or assets for the benefit of a particular person called the beneficiary. It is managed by a person called a trustee, who has an obligation to deal with the property for the beneficiary of the trust.
Trusts are set up to preserve assets for a specific purpose, such as educating children, caring for someone with special needs, or creating a fund for a charitable purpose. Trusts must be created properly to ensure that the funds are protected for the intended purpose, and are tax-efficient. Let Mann Law advise you if a trust would be an effective way to manage your assets and fulfill your family’s needs.
A Power of Attorney (POA) is a legal document that gives someone else the right to act on your behalf.
A POA is protection for you in the event you become unable to make important decisions while you are alive. For example, you may be incapacitated. With a Power of Attorney, you appoint someone you trust to make decisions on your behalf, such as handling your financial affairs or taking responsibility for your medical care. Mann Law is well versed in the preparation of Powers of Attorney, ensuring your wishes are properly verified and respected.
A person’s Will is a written document that sets out the person’s wishes about how his/her Estate should be taken care of and distributed following their passing. It takes effect only once the person passes away.
With a Will, you can name a guardian for your children should you pass away before they reach age of majority. Their well-being could be seriously compromised if safeguards are not in place regarding their guardianship in the event of your passing. Drafting a Will allows individuals to take control of how their assets are distributed after their death. They should be updated as circumstances change, such as the birth of a child, a death in the family, property acquisition, marriages and divorces. They should be reviewed regularly to ensure validity and to make sure it continues to reflect your wishes.
Creating a Will can be a daunting task, but it should not be put off or avoided. Call Mann Law today to begin planning for your family’s future.
An Estate is the property that a person owns or has a legal interest in. This term is often used to describe the assets and liabilities left by an individual after they pass away.
The administration of an Estate can be a frustrating, difficult time for everyone involved in the process. Complications can arise in an already stressful period. For executors and administrators, the paperwork and legal responsibilities can be complex, taxing and hard to comprehend. For beneficiaries, dealing with grief and confusion can be overwhelming.
Mann Law can provide both executors and beneficiaries with a variety of services designed to settle the estate efficiently and professionally, in accordance with the law and sensitive to the person’s wishes.
As a full-service firm, we take the time to review the Estate from all viewpoints. This includes looking at things such as real estate planning and family law considerations. We work to reduce the likelihood of unnecessary disputes arising by providing timely advice to everyone involved.
We ensure clients get complete information. Regular updates are a part of the process—not an afterthought. We also make sure clients have a solid understanding of the costs involved.
Personal Representative/Executor/Executrix: This person is appointed in the Will to carry out the directions of the Will. If the Will does not indicate a personal representative, the Court will appoint one. A personal representative is also responsible for administering an estate when there is no Will.
Testator/Testatrix: The legal term given to the person to whom the Will belongs. Testator is the male term and testatrix is the female term.
Heir/Beneficiary: A person or organization who receives money or property from an estate. If the deceased has left a Will, it will name the kind of assets that the beneficiaries/heirs receive. This can be in the form of property, an insurance policy, or money etc.
Intestacy: Happens when a person passes away without leaving a Will. If no Will has been left, the court will appoint a personal representative to administer the estate.
Probate a Will: Probate refers to the process of proving the legal validity of a Will by the court. This process is often necessary to allow the personal representative to act on behalf of the deceased as requested in the Will.
Codicil: A document that amends or changes a Will. Just like a Will, it must be dated, signed and witnessed, and it must refer to the Will it is amending.