What is Estate Planning?
Estate Planning is a collection of documents that protects your family from probate, estate taxes, and unwanted litigation upon your death.

Why do I need an Estate Plan?
An Estate Plan could save your family hundreds of thousands of dollars of estate taxes. It ensures that your love ones get your estate and it stops undeserving heirs from taking your assets. It makes your directions clear and there is no confusion regarding your intentions.

What can KRKB Attorneys do for me?
KRKB Attorneys can assist with Basic Estate Planning, Estate and Inheritance Tax Planning, and Asset Protection.

What are the Five Basic Estate Planning Legal Documents?
Basic estate planning makes use of five key, legal documents:

1) A Last Will and Testament is the cornerstone in estate planning. It initially details and identifies beneficiaries, who are the people who will receive the estate. Additionally, the Will shall set out both the manner and the amount to be given to each beneficiary. Moreover, the Will identifies guardians for children and for grandchildren, as well as the executor or executrix, who will ultimately by charged with the responsibility of carrying out the wishes of the decedent.

2) A Living Will is separate from the Last Will and Testament. It instructs hospitals, doctors, and other providers to permit one to die with dignity under certain circumstances. In essence, the document is not a Will, but rather an advanced healt care directive. When one is in a vegetative state or suffers progressively degenerative condition or illness from which there is no chance of revover, this document can mandate to providers that artificial means of life support is to be terminated. In this manner, the family members are not burdened unnecessarrily by medical expenses that can financially cripple them.

3) A Financial Durable Power of Attorney designates one person to be your financial representative, enabling that individual to deal with banks and other financial institutions, brokerage houses and the State and Federal Government, when you are incapacitated.

4) A Medical Durable Power of Attorney identifies and designates the individual charged with being one's health care representative. In the event of incapacity, when one is unable to make health care decisions for themselves, this power can be exercised. Moreover, the document serves to preclude family members from arguing over medical care and prevents potential litigation.

5) A Letter of Instruction to Heirs is a document with a set of instructions to be read to the heirs upon their death. These instructions are critical in that they eliminate any potential confusion and take away the burden of decision-making at a time when family members may be most emotionally vulnerable. Such instructions can be included the manner which one is to be buried as well as who is to be invited to the burial service. In addition, it may address and provide details pertaining to financial information to the executor and beneficiaries as well as the manner in which the decedent is to be eulogized.