Estate planning involves the creation of a plan for the distribution of an individual's property upon death. Without a will, property will be distributed pursuant to the laws of the State of Maine. The best way to ensure that your property will be distributed pursuant to your wishes is to create a will. The attorneys at Strout & Payson can discuss the best plan for you, including how to minimize the tax implications for your estate.
The attorneys at Strout & Payson are experienced in the creation, modification, termination and management of trusts.
Other important documents include a durable power of attorney and a health care power of attorney. A durable power of attorney is a written instrument by which an individual designates another person (the agent, or attorney-in-fact) to act on his or her behalf. A health care power of attorney, often referred to as a living will or an advance health care directive, enables the agent to make health care related decisions for the principal.