What Plan Do I Need?

Law Office of Bill Paupe, Jr.

Estate Planning -Wills-Revocable Trusts-Power of Attorney
Probate Matters-Name Change

Castle Professional Center
46-001 Kamehameha Hwy., Suite 216
Kaneohe, Hawaii 96744
Phone: (808) 235-0800 / Fax (888) 848-6891
email: bpaupe@hotmail.com

What Estate Plan Do I Need?

How simple or complex of an estate plan you need depends on your particular situation. For example, if you are a single person with no children, no property (real estate) and not a large sum of other assets, it would be enough for your estate plan to consist of a Last Will & Testament, along with a a General Power of Attorney and Advance Health Care Directive. These documents along with some steps taken at your financial institutions can ensure that your family will have no difficulties taking care of your estate if you were to become incapacitated or pass away. While many professionals may push the necessity of an estate plan involving a Revocable Trust, not everyone needs this type of planning, just as in the scenario above.

     Some family scenarios that could make good use of a Revocable Trust would be if you have young children.   With an estate plan centered around a revocable trust, you can make sure that if you were to pass away while your children are still young, your assets will be safeguarded for their benefit, ensuring that they won't go directly to the kids and possible be used unwisely. You can also name persons who would have the right to be the physical guardians over the children if you were ever unable to care for them.

     But whatever plan you choose, you can keep in mind that the terms and conditions are not set in stone and can be changed as your family's situation changes through the years.

     I invite you to discuss your options with me and together we'll find an estate plan that best suits your wants and needs, giving you peace of mind (without breaking your bank!).

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