Estate Planning

One of the most important things you can do for your family prior to your death is to have an effective estate plan in place. Individuals of all ages and incomes should have an estate plan containing, at a minimum, a Last Will and Testament and advance health care directives.  Michael's background as a litigator, experiencing in the trenches the fallout of an incompetently prepared document, provides him insight and sensitivity to potential pitfalls which may undermine an estate plan.  Michael will help you prepare a plan to assure, as much as legally possible, that your wishes are carried out.  

An estate plan may include:

• Will —  A basic component of an estate plan, a will states an individual’s preferences to be carried out upon his or her death, including property distribution, naming of beneficiaries, designating guardians for minor children, and more.
• Trusts — Property placed in a trust avoids the process of probate; and often can be administered with less time and expense than with a probate. I can help you explore various trusts, including revocable trusts, irrevocable trusts, special needs trusts, living trusts, and others.  Under certain circumstances, a trust can be a valuable tool to legally reduce taxes.
• Advance health care directives — Also known as a living will, state an individual’s desires regarding health and medical care if one day he or she becomes incapacitated.
• Power of attorney — This instrument authorizes one individual of your choice to manage your financial and legal affairs should you so desire;
• Guardianships — A guardianship can be established to name a caregiver for a minor child if parents die or become incapacitated.
• Conservatorships — A conservatorship can be established to name a caregiver for an incapacitated adult or one who needs assistance.  A conservator may be responsible to manage the medical, financial, and legal affairs of another.

Warning:  A “do it yourself” estate plan for transferring property interests is dangerous!  Mr. Hicken has litigated numerous cases as consequence of "do it yourself" plans.  The saying: “pay me now or pay me a lot more later” is often applicable.