WILLS
A Will, also known as a Last Will and Testament, is used to state formally who you want to receive your estate and to name an Executor to settle your affairs. Regardless of how much or how little money you have, a will ensures that your personal belongings and assets you have will go to beneficiaries you designate, and can also name a guardian for your minor children.

Without a Will, your assets will be distributed according to state law. A Will only becomes effective upon your death, and after it is admitted to probate.

TRUSTS
An individual can create a trust to accommodate almost any set of circumstances. Some people create trusts simply to avoid probate and protect the privacy of their heirs. Many turn to trust instruments to avoid taxation or provide for themselves should they become incapacitated. Others develop trusts to provide for minor children, protect spendthrift adult children, or to transfer assets to a charitable organization. People who are seeking ways to accomplish goals such as these, or people who believe that a will may be inadequate for their circumstances, should consult with an attorney about forming a trust.

ASSET PROTECTION
Asset protection is a legal structure to shield your assets from claims of creditors. People who have assets that could be taken away by creditors or by people who bring successful lawsuits against them, will want to consider ways to protect those assets. Some people are at greater risk because of their professions or activities, but lawsuits can happen to just about everyone. Anyone who drives might have an automobile accident where someone is injured and a judgment could be greater than the amount covered by the driver’s vehicle insurance. Anyone who owns property could be sued if someone is injured on the property and all the damages might not be covered by homeowner’s insurance.

In this kind of tragic circumstance the people who have been sued for debt or for damages could lose everything that they have worked their whole lives to build up, even if they are near retirement age. One solution is to have better insurance coverage, and another is to hold assets in a way that makes it difficult or impossible for others to take them away. In that way, you can ensure you don’t lose everything you have

ESTATE TAX PLANNING
Regardless of the amount of tax you pay during your lifetime, one last tax may be due at your death: the federal estate tax. Whether there will be any tax to pay depends on the size of your estate and how your estate plan works. There are many well-established strategies that can be implemented to reduce or eliminate death taxes, but you must start the planning process early in order to implement many of these plans.

INCAPACITY PLANNING
Incapacity planning is a broad area of law that covers how you are cared for if you become physically or mentally unable to care for yourself. This care can range from simple tasks like buying groceries, paying bills, and handling financial matters to more important decisions such as selling real estate, gifting assets to your children, or making critical medical decisions. Depending on the needs of the individual or family, incapacity planning could include a number of planning techniques such as Property Powers of Attorney, Health Care Powers of Attorney, Living Wills or Advance Health Care Directives or Guardianships/Conservatorships

LEGACY PLANNING
After you are gone, your loved ones will miss you deeply. They will long for your words of counsel and concern. Hearing your voice again would be a tremendous gift. Through our unique legacy process, you can give your loved ones the most precious gift - a lasting expression of your love. What could be more valuable?

At Ross Legal Group we believe estate planning is not just about transferring your financial assets and personal belongings. It’s also about capturing and transferring your valuable intangible gifts: who you are and what's important to you – your values, insights, stories and experience.