Mr. Dozier has been providing estate planning services in the area of Wills, Trusts, Powers of Attorney, and probate for over 38 years.
Estate Planning is the procedure where a single person or an entire family transfers their property upon death or incapacity. An estate plan is formed to keep the maximum amount of assets possible for the intended beneficiaries. Thorough knowledge of federal and state tax law is required.
Real property (real estate) and personal property (automobiles, household items, art collections, jewelry, banks accounts and investment accounts, etc.) can be transferred into the trust. Upon the death of the trustors an efficient estate plan transfers and distributes the real and personal property to one's beneficiaries.
The benefit of a trust is that it is private and trust administration is relatively quick and there is no need for probate court. Probate court is a long and sometimes very costly process whereby the court oversees the transfer of assets upon death. Sometimes estate taxes imposed by federal and state governments can be reduced or avoided.
Through instruments such as a Durable Power of Attorney for Health Care, a person can state their health care preferences in writing while they are still healthy and able to make such decisions. A Durable Power of Attorney for Health Care allows you to name a trusted family member or friend as your "agent" to make decisions for you if you become physically or mentally incapacitated.