wills, trusts, life insurance, retirement planning, changing
investments, business continuity (buy-sell agreement), gifting,
anticipating taxes, protecting family members, and many other
issues.
In most instances, we meet with you, gather your family information,
discuss various options, prepare wills, powers of attorney, and
durable health care powers of attorney and health care treatment
instructions(living wills). Revocable or living trusts may be
recommended. Occasionally an irrevocable trust or a charitable
trust are the best planning tools for larger estates.
The will specifies how your household goods, cars, personal
property, investments, real estate, and other assets you own will
pass after your death. In your will, you name an executor, who is
responsible for seeing that your wishes are carried out. If you have
young children, you will appoint a guardian for them, create a trust
to fund their upkeep and education, and name a trustee to oversee
the investment and spending of the trust funds.
A will may include an exemption equivalent trust that is designed to
reduce federal estate tax.
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you are disabled or are traveling. Most powers of attorney may be used immediately after
they are signed. The powers granted to the agent can include:
Handling investments
Selling or buying personal property
Selling or buying real property
Dealing with insurance matters
Borrowing money
bank accounts
Filing or defending lawsuits
Signing tax returns
Making gifts
Numerous other acts
(living will) allows your agent to deal with medical care providers in the event you are
unable to do so yourself and instructs your physician on the type of medical care you want
to receive in the event you are unable to participate in the medical decision. Health care
treatment instructions are followed when the treatment serves only to prolong the process of
dying, if you are in terminal condition or in a state of permanent unconsciousness. In the
health care treatment instructions, you may name another person to make medical treatment
decisions for you.
Attorney at Law
Suite 202 110 Regent Court
State College, PA 16801
(814) 238-0760
www.ffarber.com
