Nest: Estate Planning by L. Rachel Wilson

Estate planning is the process of arranging for the transfer of an individual’s property after death. It often involves a will and/or trust, which we handle for and with you, with your unique goals and wishes in mind.

Estate planning allows you and your family to decide precisely who will benefit from your estate. It also allows you to have peace of mind that your estate will not crumble under taxes following the transfer of assets.

A will is an individually prepared legal document that allows you to have control over how your assets will be distributed after your passing and who will receive your assets. In other words, it is the document that puts your estate plan into motion when the time comes for your plan to be implemented. The will is also used to determine which of your loved ones will be responsible for seeing to your final affairs as they settle and close your estate. For families with minor children, a will allows you to plan for their care in the event of your passing or incapacitation. With Nest, we do not “set and forget” your will; it is adjustable throughout your lifetime. This allows you to make any modifications necessary, should you decide to do so.

A living will, also known as an advanced directive for healthcare, is a statement that details your wishes regarding medical treatment in the event that you are no longer able to communicate and nominates someone to make healthcare decisions for you in case of your incapacity. Contact our office today online or by phone to schedule a consultation to learn more about how Rachel Wilson can provide the most holistic living will for you and your family.

Probate is the judicial process of administering an estate after someone has passed. This may include carrying out the wishes left in a will, providing the court with an inventory of the decedent's property and debt, contacting decedent's heirs at law, or mediating potential disputes over a decedent's assets. The executor of an estate files documentation informing the court of the decedent's passing and offering the will for review. In the event that there is no executor named in a will, the court will appoint someone to take on the role of executor. Probate can be very time consuming so working with Nest makes all the difference. Rachel Wilson is committed to providing the highest degrees of professionalism, personal care, and attention to detail in the probate process from beginning to end, no matter how complex.

A trust is an individually prepared legal document that ensures your assets are used for your benefit during your lifetime. It provides for the transfer of the assets to a beneficiary (or group of beneficiaries) upon your death. It can also set limitations or restrictions on how assets are used and by whom. This can be especially helpful when there are minor children involved. A key benefit to a trust is that they do not require probate.

A power of attorney is a document that grants a specified individual (the Agent) the right to act on your behalf in the event of your incapacitation. This is a very powerful document that may include the power to liquidate assets, pay bills or taxes, or make financial decisions, among many other things. The Agent is responsible for making decisions in your best interest and maintaining accurate records of all transactions and decisions that they make for you regarding charitable giving, assets, and more, depending on your wishes.