Will and Trust

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If a person dies without a will or living trust, their property will be distributed according to a statutory format.  By having a will, the deceased ensures that their estate is distributed according to their wishes.  

This firm primarily does simple wills, i.e. wills for people whose estate is not worth more than $650,000.00.  If your estate is greater than that you should consult an estate planner so that you can lower your estate and gift tax obligations that will be incurred upon your death.

A living will is an instruction to your healthcare provider regarding your wishes in the event that your life becomes prolonged with the use of machines even though there is little chance of recovery.  A living will saves your family the difficult decision of when to turn off life support.  This can be a critical decision because the cost of such life support systems can often quickly drain an estate.  When there is no chance of recovery, many individuals desire that life support cease. Due to the emotional state of your family members this may be too difficult a decision for them to make.  In addition, it may also cause disharmony between your surviving family members if they disagree.

The Alaska Statutes forbade an attorney from charging for a living will.  Thus, JOHNSON & KIM, PC will provide one for free when we draft your will or trust. 

A living trust is a vehicle by which you can maintain control of your estate before you die, but avoid the costs of probating a will.  They both accomplish a similar purpose: the distribution of your estate.

For more information:

The Difference Between Wills and Living Trusts - brought to you by the 'Letric Law Library

Types of Wills and Trusts - brought to you by LifeNET

The Living Will - further description and sample form brought to you by the Nashville Police

Disclaimer

The materials at this website have been prepared by JOHNSON & KIM, P.C. for information purposes only and should not be construed as legal advice or legal opinion on any specific facts or circumstances.   The JOHNSON & KIM, PC website is a public resource of general information which is intended, but not promised or guaranteed, to be correct, complete and up-to-date.   The information at this website is subject to change without notice.   Although we try to keep our site current and accurate, you should not rely on this information or its applicability to any specific circumstances without first seeking the advice of an attorney.  This website is not intended to create, and receipt of information through the Internet does not constitute, an attorney-client relationship. Furthermore, we would like to stress that although the JOHNSON & KIM, PC website is linked to other websites, there is no affiliation between the JOHNSON & KIM, PC website and other sites.