At the Thompson Mungo Firm we value the needs of each of our clients, that is why we take the time to meet with each client to get to know them and craft a well thought out plan to protect their family, belongings and their legacy. Think about it, estate planning can be overwhelming but with the proper guidance it will give you peace of mind. An estate plan can include several sophisticated documents, but a basic estate plan should at least include a Will, Advance Directive For Healthcare, Medical Information Release, Financial Power of Attorney and Nomination of Guardian for Minor Children.
A will is a document that specifies your wishes for the distribution of your property, your minor children, and any other individuals you may be responsible for. Without having a will, the court will decide who will become responsible for your children and what happens to your assets.
Advance Directive For Health Care
An Advance Directive For Health Care gives you the opportunity to specify your treatment preferences and for you to appoint someone you trust to carry out your wishes if you became incapacitated.
Medical Information Release
A Health Insurance Portability Act or HIPAA authorization for short allows you to specify a trusted individual who can access to your medical records and other protected health information in the event you become incapacitated or unable to access those records for yourself.
Financial Power of Attorney
A Financial Power of Attorney authorizes someone you trust to handle your finances such as paying bills, managing your bank accounts, and making important financial decisions if you are not able to make decisions on your own.
Nomination of a Guardian for Minor Children
A Guardian nomination identifies who will be responsible for the care of your children if you are unable to care for them due to incapacity or death.
A trust is a legal document that, just like a will, contains your instructions for what you want to happen to your assets when you die. But, unlike a will, a living trust can avoid probate at death, control all of your assets, and prevent the court from controlling your assets if you become incapacitated.