Wills and Estate Planning

Understanding the Terms and Documents Involved
LAST WILL AND TESTAMENT

Appoints Personal Representative And Gives Directives Regarding Your Accumulated Assets

Spouse is Only Person That Cannot be Disinherited in Your Will
After Completing and Signing Your Last Will and Testament:
-You Should Keep an Original (But NOT in your Safe Deposit Box)
-Give a Copy to Your Attorney

DURABLE GENERAL POWER OF ATTORNEY

Appoints an Attorney-in-Fact and Give Directives Over Your Financial Affairs While You are Living

Terms You Need to Know and Understand
-Attorney-in-Fact (Does not have to be a Lawyer)
-Durable
-Successor Attorney-in-Fact

Durable Power of Attorney ENDS when You Die.

DURABLE POWER OF ATTORNEY FOR HEALTHCARE 

Gives Authority for Someone to Make Your Health Care Decisions For You Should you Not be Able to Make them Yourself

Requirements to Make Your HealthCare Power of Attorney Effective
-After Completing and Signing the Health Care Power of Attorney:
-You Should Keep an Original
-Give a Copy to the Person you Name as Attorney-in-Fact
-Give a Copy to your Doctor to Be included in your Medical Records

ADVANCE DIRECTIVE (LIVING WILL)

States preference for the withholding or withdrawal of life-sustaining procedures in the event of terminal illness and mental incapacity

Provisions to withhold or withdraw life-sustaining procedures where death is not imminent may not be enforceable in the District of Columbia

Execution must be witnessed by persons age 18 or older who are not related to principal by blood or marriage and not entitled to inherit
 
Wills and Estate Planning

Understanding the Terms and Documents Involved

LAST WILL AND TESTAMENT

The Last Will and Testament is Primarily Used to:
-Appoint a Personal Representative for Your Estate
-Give Directives from you Regarding How You want your outstanding Bills and       Expenses to be paid
-Give Directives Concerning Who Shall Inherit Your Accumulated Assets
-Give Directives Regarding Your Funeral Arrangements
  
Essential Information Needed to Complete Your Last Will and Testament:
-Date of Birth and Social Security Number
-Marital Status and Spouse’s Name (Including All Previous Marriages)
         Children, Both Living and Deceased, Living Grandchildren, Brothers/Sisters 
         and Parents Accumulated Assets (and Value) Including Real Estate, Bank
Accounts, Stocks, Bonds and Other Personal Property (Cars; Businesses; 
Insurance Policies; etc.)
-Need Names, Ages, Addresses, etc.
-Personal Representative to Administer Your Estate

Terms and Things You Need to Understand:
oPersonal Representative vs Administrator vs Executor
oProbate
oEstate
oBeneficiary vs Heir
oTestate vs. In testate
oYour Spouse is the Only Person You Cannot Disinherit in Your Will 
 (The Spouse can Take a Minimum of 50% of the Estate by Challenging the Will)

Requirements to Make Will Effective:
-Your Must Swear/Affirm That you read the Will and Accept it with Your Signature
-Must have at Least Two Witnesses (Who are NOT Beneficiaries of Your Will 
Sign)           
-Personal Representative Must Accept and Be Competent
-Personal Representative’s Signature Must be Notarized

After Completing and Signing Your Last Will and Testament:
-You Should Keep an Original (But NOT in your Safe Deposit Box)
-Give a Copy to Your Attorney

DURABLE GENERAL POWER OF ATTORNEY

Is Primarily Used to Give Directives over your financial affairs if you should become incapacitated but not die

Your Appointed Attorney-in-Fact will handle the following of your Financial Matters:
oReal Estate Property Matters
oBank Accounts (Sign Checks)
oHiring and Paying Professional Advisors (Doctors; Lawyer; etc.)
oHandling Legal Matters
Note That in DC, Unless you Specifically State So in the Power of Attorney, Gift Giving to Charitable Organizations (i.e., Churches) is NOT Allowed

Terms You Need to Know and Understand:
oAttorney-in-Fact (Does not have to be a Lawyer)
oDurable
oSpecific Power of Attorney (Time; Duties)
oFiduciary Responsibility
oSuccessor Attorney-in-Fact






Important Things You Should Consider and Do:  
-Make Sure the Person You Appoint is Reliable and Trustworthy
-Under DC Law there is no Requirement for the Attorney-in-Fact to Account to 
You regarding Your Funds Under the Power of Attorney
-Appoint a Successor Attorney in Fact In Case the First Appoint Attorney-in-Fact
Dies before you do
-Check with your Bank Manager to make sure your bank does not have its own 
forms for you to complete and sign

Requirements to Make Your Durable Power of Attorney Effective:
-Your Signature Must be Notarized
-Must have Two Witnesses (With each Signature Notarized)
-Attorney-in-Fact Must Accept and Be Competent
-Attorney-in-Fact’s Signature Must be Notarized

After Completing and Signing the Durable Power of Attorney:
-You Should Keep an Original
-Give a Copy to the Person you Name as Attorney-in-Fact

Durable Power of Attorney ENDS when You Die

DURABLE POWER OF ATTORNEY FOR HEALTHCARE

Primarily Gives Authority for Someone to Make Your Health Care Decisions Should you Not be Able to Make them Yourself (i.e., become terminally ill, go into a coma or vegetative state)
-Do you want to artificially prolong your life?
-Do you wish to remain alive in coma if no possibility of regaining consciousness 
is certified by two doctors?
-Is there any type of treatment that you do not desire to have?
-Is there any type you want to make sure you Receive?
-How do you want disagreements between Doctors to be Handled?

Appoints an Attorney in Fact and Give Him/Her the Directions to Carry out your Wishes:
-To Grant, Refuse or Withdraw any Health Care Services, Treatment or Procedure
-To Talk to Health Care Personnel for Information
-To Sign Forms Necessary to Carry Out Your Decisions
-To grant or refuse visitation rights
-To grant admission to or withdrawal from a health care or nursing facility

Requirements to Make Your HealthCare Power of Attorney Effective:
-You Must Sign This Document
-Must have At Least Two Witnesses (Who are NOT Related toYou nor
Beneficiaries of Your Will) Sign
-Attorney-in-Fact Must Accept, Sign and Be Competent
-Attorney-in-Fact  Signature Must be Notarized

NOTE: Principal does not have be terminally ill for this to be effective

Even After you sign a Health Care Power of Attorney You can make your own Health Care Decisions if you are competent to do so

You have the right to take away the authority of your attorney in fact, unless you have been adjudicated incompetent, by oral or written notification to your attorney in Fact.  (It is advisable to do so in writing and place a copy with your Health Care Power of Attorney document.)

After Completing and Signing the Health Care Power of Attorney:
-You Should Keep an Original
-Give a Copy to the Person you Name as Attorney-in-Fact
-Give a Copy to your Doctor to Be included in your Medical Records

ADVANCE DIRECTIVE (LIVING WILL)

Is a written directive or declaration that states declarant’s preference for the withholding or withdrawal of life-sustaining procedures in the event of terminal illness and mental incapacity

Traditionally directs that if death is imminent, the process of dying should not be prolonged but care to maintain comfort and dignity should be provided

Provisions to withhold or withdraw life-sustaining procedures where death is not imminent may be desired and included but may not be enforceable in the District of Columbia

Principal must be 18 years or older and presumed competent

In the District of Columbia execution must be witnessed by at least two persons age 18 or older who are not related to principal by blood or marriage, not entitled to inherit, not financially responsible for principal’s health care, and not a health care provider

NOTE:  This document merely sets forth the wishes of declarant to avoid life-sustaining procedures; it does not have to name a proxy to carry out these wishes 

After Completing and Signing the (Living Will):

You Should Keep an Original
Give a Copy to your Attorney and some other Designated Individual
Give a Copy to your Doctor to Be included in your Medical Records

NOTE:  You can change or revoke any of the above documents either by executing new ones, tearing up the old ones, or simply informing your bank or doctor (and your attorney) that you no longer give your attorney-in-fact authority to act on your behalf.  You should do this in writing to all persons who may have copies of the documents.

What do we do for you?

An Initial Consultation Fee is charged where we meet with you for one hour to get to know you (and you get to know us) and get a comfortable feeling moving forward.

At the conclusion of this consultation session you determine if you wish to move forward.

After this consultation session we will give you an extensive questionnaire to fill out to get the specific information we talked about today, and we will send to you a retainer fee agreement.

There is a fixed fee to draft and complete one, or all four, documents.  Minimum one-half of the Retainer Fee must be paid in advance at the time you return the signed Retainer Fee Agreement; the balance is due upon your receipt of the completed first drafts.)

Takes approximately 3 – 4 months to complete; involves a couple of meetings to review and revise documents