FFFP – January 7, 2022 – Estate Planning and Legal Authority For Parents

An estate plan ensures your values, wishes and legacy are preserved and passed on. It also limits litigation, taxes and expenses for your family and heirs.

If you do not have a will when you pass away, State Laws (Statute) and/or the court system will decide who your heirs are and how much they receive.

Nearly 60% of adults in the US do not have a will. Almost 50% of adult Americans have not named someone to make their healthcare decisions if they are incapacitated.

A comprehensive estate plan empowers you to:

• Protect family wealth and privacy.
• Ensure that your wishes and family needs are met.
• Plan for your own needs.
• Dispose of assets according to your desires.
• Minimize taxes and expenses.

In particular, parents of children with disabilities must exercise extra care in setting their estate plans. You are planning for your future as well as your child’s. The right planning will protect your (adult) child’s inheritance while retaining their eligibility for public benefits.

As we always say “It’s all in the planning.” Legal authority refers to who may act on your behalf when you ask them to, or if you are unable to do so, depending.  There’s a spectrum of options. These are part of your planning as well.

Our latest webinar will guide you to strategize, plan and execute an approach to secure your financial future and that of your child.  The goal is to bring you peace of mind. Wouldn’t it be wonderful to know that you have a plan in place to manage the financial security of your future as well as your child’s?

Presented by:

Elizabeth (Liz) Gray
Attorney at Law
McCandlish Lillard

Sarah C. Aviles
Attorney at Law
McCandlish Lillard

Tia Marsili
Director of Trusts
The Arc of Northern Virginia

Register for the event here