Frequently Asked Questions
Estate planning can be a confusing topic for some people. Below are the answers to questions often asked at Lauren Richardson, PLLC.
What is probate?
Probate is the legal process of establishing the validity of a will.
Why do I want to avoid the probate process?
Probate is a slow and costly public process where assets are divided through the court’s authority.
What is a will?
A will is a document that indicates how a person’s assets will be disbursed upon his/her death.
What is a living will?
A living will is a document that specifies to a person’s family and medical professionals what type if end-of-life (EOL) treatments he/she wants to receive and under what conditions he/she wants to receive them. A living will is essential in cases of extreme incapacitation and disablement where a person is unable to voice his/her desires.
What is a power of attorney?
A power of attorney is a document that hands over control of a person’s decision-making powers to a designated agent. The trusted agent can make financial and medical decisions on a person’s behalf in case of disablement and incapacitation.
What is a living trust?
A legal document that specifies to medical professionals as well as your family what end-of-life (EOL) treatments you want to receive and under what conditions you want to receive them when you are unable to voice them due to incapacitation or disablement.