Hampton Law understands that estate planning can be intimidating and overwhelming. No one wants to think about what happens when they pass away. However, creating a plan sooner than later will alleviate stress for your loved ones and give you peace of mind.
What is Estate Planning?
Estate Planning is a comprehensive process that addresses both your person and property during life and death. There are plenty of reasons why you want to have an estate plan in place – the biggest one being that you can decide what happens with your assets while you’re still of sound of mind. If you don’t complete an estate plan, there may come a time where it’s too late, and you won’t have a say in how your estate is distributed. As our slogan states, “Plan Today, for Peace of Mind Tomorrow”.
Everyone will need estate planning at some point. If you’re over the age of 18 and have recently gotten married, had or adopted a child, have had a change in your health situation, or experience a significant life change, it’s time to consider estate planning. It’s never too soon to start planning because you never know what the future will bring.
Our Process:
Hampton Law takes a comprehensive approach to estate planning. We assist you in the following:
- Identifying your goals
- Determining which assets are subject to probate and offering solutions to avoid probate
- Structuring your assets in an efficient manner
- Determining who should assist you in decision making when you’re no longer able
- Who will administer your assets upon your passing
Mistakes to Avoid
The biggest mistakes we see are plans that are ineffective at meeting the goals or concerns of the client. Plans that name different beneficiaries in different documents and inconsistent plans can cause unnecessary fighting between heirs or confusion for the court.
Other mistakes include; naming an unqualified individual to oversee your affairs, not taking into consideration long-term care needs or Veterans Benefits, not taking into account children or family members with special needs, and proper planning for your pets.
Hampton Law works to address your family’s unique goals and situation. We will tailor an estate plan based on your needs and wishes. There are several documents that might be included as part of your estate plan. We’ve explained each of these in more detail below.
Last Will and Testament
A Last Will and Testament is a document that is submitted to the Court upon your death. It informs the Court who you want in charge of your estate and where your assets should be distributed. A Last Will and Testament does not avoid Probate.
Durable Power of Attorney
The most important document is the Durable Power of Attorney. The Durable Power of Attorney allows someone to make legal and financial decisions on your behalf. However, the document doesn’t survive you, meaning the document expires upon your death.
Health Care Surrogate
The most important document is the Durable Power of Attorney. The Durable Power of Attorney allows someone to make legal and financial decisions on your behalf. However, the document doesn’t survive you, meaning the document expires upon your death.
Living Will
The Living Will is an end-of-life document. Should you become terminally ill and/or lack capacity, your living will surrogate or physician can determine when you no longer desire life-prolonging measures.
Trusts
Trusts can address both life and death planning, avoid Probate, and serve many other specific purposes.
What To Expect
- When you contact Hampton Law, we’ll send you our Client Intake form to fill out. This gives the attorney the necessary background information regarding your assets, beneficiary information and goals, so that the attorney can utilize the Initial Consultation to make recommendations and answer your questions.
- Once you’ve returned the Client Intake Form, our office will schedule and Initial Consultation with you. This appointment lasts one hour. At the conclusion of the consultation, you will have the opportunity to retain Hampton Law and sign the Legal Representation Agreement.
- Our office will schedule you for a final appointment where you will review all drafted estate planning documents, make any necessary changes, and sign your documents.
- Hampton Law will provide you with a binder for all your original documents before you leave the office at your signing appointment. Keep this binder in a safe place. If you desire, we can email digital copies to you and your beneficiaries. Hampton Law will also maintain digital copies of your estate planning documents, should you ever need them.
- Over time, depending on life changes, it may become necessary to update your estate plan. Please give us a call anytime if you’d like to review your plan or make changes.
