What Is Estate Planning?

PROVIDING FOR AND PROTECTING FAMILY

We also help families find peace of mind by creating thoughtful plans to protect and preserve their assets while disabled or incapacitated and then pass their real and personal property to those they love at death. Caring for yourself and loved ones, passing along a legacy to your family, or maintaining control over the property you’ve worked hard for are all goals that we help our clients accomplish when planning for the unexpected and the inevitable. We do more than draft documents. Our clients need customized plans to address their unique family concerns. We also ensure that all Tennessee laws are considered when preparing the most appropriate plan for you.

Estate planning is a comprehensive plan that addresses how you, your children, and your assets are to be managed if you become disabled and when you die. Life planning enables someone you appoint to care for you if you can no longer care for yourself. For instance, if an unfortunate accident left you incapacitated, financial and health care powers of attorney could help maintain control of your assets and medical decisions through trusted family and friends.

Death planning involves the creation of a will or trust, which is used to control who receives your assets after your death. Wills and trusts may also be used to minimize legal fees and taxes. A comprehensive estate plan allows you to give what you want, to whom you want, how and when you want. Trust-based estate plans also help avoid delays, privacy invasions, and sometimes additional costs that occur in probate court.

WHEN TO PLAN

We encourage our clients to proactively plan for the future and avoid procrastination when it comes to estate planning. It is important to make planning decisions when you are healthy and of sound mind. Unfortunately, the Law Offices of Charles R. Frazier has received calls from clients who are seeking what is sometimes referred to as “death bed” estate plans. We have also had to decline representation in cases where a potential client is not competent or otherwise lacks the capacity to execute estate planning documents. While we may want to help all clients who call on us for representation, sometimes we cannot, especially when it’s just too late.

There is a common myth that young people do not need estate plans. Young people are not immune to sudden incapacity due to medical emergencies, accidents, or other unexpected events. Once a teenager reaches age 18, the federal Health Insurance Portability and Accountability Act (HIPAA) dictates that their medical records and health information become accessible only to them as the patient. A release of information, sometimes known as a HIPAA Authorization Form, must be signed by the young adult for a doctor to speak to their loved ones about their care or health information, even if the young adult is still covered by their parents’ health insurance.

Anyone over the age of 18 should, at minimum, have a will, powers of attorney, a HIPPA Authorization, and a living will. These legal documents ensure that your wishes are carried out in the event that you become incapacitated or disabled, or even upon death.

Hiring a lawyer can be a stressful thing, however, the Law Offices of Charles R. Frazier helps clients achieve the peace of mind that comes with planning for the future. Our experienced estate planning attorney can help you create a brand-new estate plan or modify an existing one. We guide clients through their fears and concerns and then help them find peace of mind. We are committed to providing all clients with personal service and attention to their legal matters.

Allow The Law Offices of Charles R. Frazier to Help

Contact our office today and allow us to help you plan for your future.