As an attendee, you will learn what makes a good estate plan. You will also learn the pros and cons of the key estate planning documents. You will have the opportunity to execute your personal last will and testament, beneficiary deed and powers of attorney for healthcare and for finances.

If you have assets, then you should have an estate plan. You should have a will to direct your personal property (i.e. bank accounts, cars, arts and other possessions) to your intended beneficiaries. You should also have powers of attorney in place so that your assets may be managed and maintained in the event of your incapacity and so that your healthcare decisions are clearly defined.

A quitclaim deed is not a proper form of estate planning. Quitclaim deeds do not account for liabilities that arise from capital gains taxes, federal mortgage regulation, bankruptcy or divorce. A quitclaim deed does not allow a grantor to provide contingencies in the event that the intended beneficiary is deceased or otherwise unavailable, which may result in the estate having to be probated in court.

You may establish an estate plan, even if you have a mortgage. Mortgages generally allow borrowers to name beneficiaries on real property but not to change ownership.

Without an estate plan, it is very likely that your loved ones will be required to file a probate lawsuit in court so that they can obtain legal authority to manage your assets. Creating an estate plan allows YOU to give the requisite legal authority that your loved ones will need; thus eliminating the need for judicial intervention.

The ideal attendees of Brunch & Bequests have simple estates (i.e. a single parcel of real estate and a few bank accounts). Individuals with more complex assets should consider having a consultation with our office so that we may design a suitable estate plan.