Planning For Your Future
The long-term financial protection of your children and spouse requires more than just establishing a will. Maintaining an estate — and ensuring it is not diminished by taxes or in-fighting among beneficiaries — takes a great deal of attention and care.
Tim Hayes Law can help. For several years, Tim worked as a financial advisor at First Financial Bank, assisting individuals as they sought to grow their wealth. He understands thoroughly the nuances involved in financial matters, and will work with to you design an estate plan that provides for your heirs and avoids unwieldy tax obligations and other concerns.
A Good Estate Plan Is A Varied Estate Plan
A good estate plan, like any financial plan, should be diverse. For many, a will serves as the cornerstone, but there are other tools that can help maximize the value of what you leave to your beneficiaries. Tim Hayes Law is adept at executing a full range of estate planning considerations, including:
- Wills — The most basic — and essential — estate planning tool, a will is a document that makes clear your final wishes. It identifies who will inherit your assets, and names an executor who will see that the will’s conditions are observed.
- Trusts — A trust is a special financial arrangement that places your property or other holdings into the care of a third party, called a trustee. Trusts are typically more specific than wills; rather than simply naming a beneficiary for a given asset, it can designate when the beneficiary will receive the asset in question. Trusts also bear the advantage of being exempt from estate taxes.
- Living trusts — An important type of trust, in which you place your assets in the care of a third-party while you are still living. You will be able to receive funds from your trust while you are alive, and designate who will receive the remaining assets when you pass.
- Powers of attorney agreements — Should you become impaired or incapacitated, powers of attorney agreements are crucial means to make sure your wishes are met. These are contracts that, in extraordinary circumstances, grant decision-making authority to individuals you trust with regard to your medical care and finances.
Serving in Terre Haute, our firm is also skilled in helping beneficiaries through the probate process. We work hard so that your estate is distributed promptly and according to your intentions.