Frequently Asked Questions

Estate planning is the process of arranging how your assets, including your home, real estate, bank accounts, investments, personal property, and digital assets, will be managed and distributed after your death or in case you become incapacitated.  At its core, estate planning is about protecting what you’ve worked hard for and ensuring that your wishes are carried out when you’re no longer able to make decisions for yourself. It typically involves the creation of legal documents like wills, trusts, powers of attorney, and living wills.

A will is a legal document that outlines how you want your assets distributed after your death. It allows you to designate beneficiaries for your property, name an executor to manage your estate and appoint guardians for any minor children. A will ensures that your wishes are clearly stated and followed, helping to avoid confusion and disputes among family members. Everyone needs a will, regardless of the size of their estate, because it provides control over how your assets are handled and protects your loved ones from having to navigate complex legal processes without guidance. Without a will, state laws will determine how your estate is distributed, which may not align with your intentions. 

A living trust, also known as a revocable trust, is another crucial estate planning document.  It is a legal entity that manages your assets during your lifetime and after your death. It can allow for the seamless transfer of property to beneficiaries after you pass away without going through probate. 

 A living will, or advance directive, specifies your preferences for end-of-life medical care. This document is essential for guiding healthcare providers and your loved ones if you cannot express your wishes. It outlines your desires regarding life-sustaining treatments, such as resuscitation,  mechanical ventilation, Tube feeding, and Organ donation. Also, it can help your family make informed decisions during emotionally challenging times.

A Beneficiary Deed, also known as a Transfer on Death (TOD) deed, is a legal document that allows a property owner to transfer real estate to a designated beneficiary upon the owner's death without the need for probate. This type of deed can be an effective tool in estate planning, providing a simple way to ensure that property passes directly to the intended beneficiary, thus avoiding the delays and costs associated with probate. Some additional features are:

1. the property owner retains complete control over the property during their lifetime

2. the deed can be revoked or changed at any time by the property owner

3. the deed must be recorded before the passing of the property owner

A quitclaim deed is a legal document used to transfer a person's interest in a property to another person without making any guarantees about the title. Essentially, the grantor (the person transferring the property) gives up any claim they have to the property, and the grantee (the person receiving the property) accepts it "as is." This type of deed is often used in situations where the parties know each other well, such as among family members or in a divorce settlement because it does not provide any warranties against other claims on the property. 

A warranty deed is a legal document used in real estate transactions to transfer ownership of property. Unlike a quitclaim deed, a warranty deed offers a guarantee from the grantor to the grantee that the title is clear of any encumbrances or claims by others. This means the grantor promises they have the legal right to transfer the property and that no one else can make a claim against it.

There are two types of warranty deeds: general and special. A general warranty deed provides the broadest guarantee, covering the property's entire history. A special warranty deed, on the other hand, only guarantees that the property's title is clear for the period during which the grantor owned the property.

Funding the estate involves transferring your assets into the appropriate legal structures(Trust). It ensures that your assets are correctly titled and align with your overall estate plan. This process is essential for effectively managing and distributing your estate after your death or if you become incapacitated. 

Probate is the legal process through which a deceased person’s estate is administered, debts are settled, and assets are distributed to heirs or beneficiaries under a court’s supervision. While probate ensures that the estate is handled according to state laws and the decedent’s will (if one exists), it can be time-consuming, costly, and public. The process often involves attorney fees and court costs and can take months or even years to complete. Additionally, probate records are part of the public domain, meaning the details of your estate become accessible to anyone. For these reasons, many people choose to avoid probate by using estate planning tools like living trusts, joint ownership, or beneficiary designations, which can streamline asset transfer, save money, and maintain privacy. 

Guardianship is a legal arrangement in which a court appoints a person (called the guardian) to make decisions on behalf of another individual (known as the ward) who is unable to make decisions for themselves due to incapacity, disability, or age. The guardian is responsible for managing the ward's personal, medical, and sometimes financial matters. 

Conservatorship is a legal arrangement in which a court appoints a person or entity (called the conservator) to manage the financial affairs of another individual (known as the conservatee) who is unable to do so due to mental or physical incapacity. 

At The Edwards' Law Offices, our goal is to simplify and make the estate planning process more accessible: 

 Step 1. Intake. You complete an estate planning questionnaire from the comfort of your home or work.

 Step 2.Consultation.  Meet with our experienced attorney to discuss your estate planning goals, objectives and concerns and answer your questions. 

 Step 3. Estate Plan Strategy. We will develop an estate plan strategy (recommendation)with a fee quote for review and approval.

 Step 4.  Drat of Estate Plan. If you retain our services, we will create a customized draft of an estate plan for your review and approval. 

 Step 5. Implementation-  Once you are satisfied with the draft, we will finalize your plan (with signing instructions) and make it available for download from our secure portal. We can also send it to you via certified U.S. Mail or courier service.