Page 36 - Overton Funeral Home

estate planning process it it is important to speak with a a a a a a a a a lawyer experienced in in such matters and knowledgeable of your unique situation A well designed estate plan can help minimize probate (and other) taxes and and can alert you you to to to any personal statutory claims that may impact your your ability to to to deal with your your assets as as intended A lawyer can discuss any potential claims that a a a a a a a a a a a a a a a dependant may have under Law and with respect to any potential claims or entitlements An awareness of such responsibilities and rights can help prevent unintended consequences or surprises upon death In addition to to certain statutory claims there are other legal limitations that must be considered when drafting a a a a a a a a a a Will Documents such as a a a a a a a a a a a a marriage or cohabitation agreement agreement agreement a a a a a a a a a a a a a a separation agreement agreement agreement or or a a a a a a a a a a shareholders agreement agreement agreement (with buy/sell provisions or or option agreements) may also affect your Will plan and thus it it is important that such information be shared with your representative(s) when designing an an estate plan In addition to to determining how your estate will be distributed a a a a a a a a a a lawyer can speak to to you about choosing an an an Estate Trustee and the considerations involved in in in in selecting an an appropriate person (or trust company) to administer your estate The potential responsibility and work involved in in in in being an an an an an Estate Trustee can can be be significant and and thus appointing someone with the financial acumen and and willingness to take on on this responsibility is is a a a a a a a a must must Often times people assume they must must appoint a a a a a a a a a a relative or or child to act as as an an Estate Trustee because it it would be be be “an “an honor” honor” While it it may be be be considered “an “an honor” honor” for some some the the primary considerations should be choosing someone with the the patience ability and willingness to carry out this responsibility Powers of Attorney
A power of attorney is an an instrument by which a a a a a a a person person authorizes another person person (the “Attorney”) to to to act on on on on his or or or or her her behalf It is is quite common for for people to to to to execute a a a a a power of attorney for for personal care and Page 36 - OvertOn Funeral HOme Inc