Based in Illinois, Heidi Scott is an accomplished attorney and Certified Public Accountant (CPA) at the Law Offices of Heidi Scott in Mt. Sterling, Illinois. At the firm, Heidi Scott specializes in tax law and estate planning.
Estate planning is the preparation of documents that state what will happen to your assets if you become incapacitated or die. A good estate plan has three key documents:
- A living revocable trust. This document outlines how you would like your assets handled while you are alive and after your death. The document names your beneficiaries and a trustee to oversee the transfer of your assets to your beneficiaries.
- A pour-over will. This document transfers your assets to your living trust trustee when you die so they can pass the assets to your beneficiaries. In this document, you can appoint a guardian for minor children.
- An advance healthcare directive. This document names the person you choose to decide the treatment you undergo if you become incapacitated and cannot do it yourself. The document also states the end-of-life care you would like to receive.
Estate planning is the preparation of documents that state what will happen to your assets if you become incapacitated or die. A good estate plan has three key documents:
- A living revocable trust. This document outlines how you would like your assets handled while you are alive and after your death. The document names your beneficiaries and a trustee to oversee the transfer of your assets to your beneficiaries.
- A pour-over will. This document transfers your assets to your living trust trustee when you die so they can pass the assets to your beneficiaries. In this document, you can appoint a guardian for minor children.
- An advance healthcare directive. This document names the person you choose to decide the treatment you undergo if you become incapacitated and cannot do it yourself. The document also states the end-of-life care you would like to receive.
