Your browser does not support JavaScript
 

Advanced Medical Directives

Advanced medical directives let others know what medical treatment you would want. Or it may allow someone to make medical decisions for you, if you are unable to express your wishes. There are three basic types of advanced medical directives. The required documents vary from state to state:
  • A living will allows your representative to approve or decline certain types of medical care, even if you will die as a result of declining care. In most states, living wills take effect only under certain circumstances, such as terminal injury or illness. Generally, one can be used only to decline medical treatment, if its only purpose is to prolong the moment of death. In those states that do not allow living wills, you may still want to have one to serve as evidence of your wishes.
  • A durable power of attorney for health care (known as a health-care proxy, in some states) allows you to appoint a representative to make medical decisions on your behalf, if you are unable to.
  • A Do Not Resuscitate order (DNR) is a doctor’s order that tells medical personnel not to perform CPR if you go into cardiac arrest.

Trusts

There are over 50 different types of trusts available. One of the most common is a living trust (also known as a revocable or inter vivos trust). It is a separate legal entity when you own property, such as your home or investments. The trust is called a living trust because it’s meant to function while you’re alive. You control the property in the trust, and, whenever you wish, you can change the trust terms, transfer property in and out of the trust, or end the trust altogether.

Not everyone needs a living trust, but it can be used to accomplish various purposes. If you’re concerned about privacy, property in a living trust is not included in the probate estate. Therefore, it’s not subject to public record.

Depending on the situation and state laws, the probate process can be simple, easy, and inexpensive. Or it can be relatively complex, resulting in delay and expense. This may be the case, for instance, if you own property in more than one state or in a foreign country, or have heirs who live overseas.

Transferring property through a living trust provides a quicker, almost immediate transfer of property if desired. Or it can apply certain restrictions to the timing and size of the distributions to beneficiaries.

Click here to learn more about Multi-Generational Planning and Asset Distribution to Beneficiaries. 
 
Fiduciary Duty
10 Questions
5 Reasons to Think TWP
Field Guide to Choosing an Advisor
 

INVESTMENT
MANAGEMENT

Your investment philosophy should be grounded in academic research and financial science. Our team will build you an investment portfolio that aims to give you the highest probability of achieving your goals with the least amount of risk.

Learn More
 

RETIREMENT AND
TAX PLANNING

Figuring out how to recreate your paycheck or developing a spending policy should not be an overwhelming exercise. Our team has the expertise to help with retirement portfolio, tax strategies, distribution planning, social security maximization strategies and more.

Learn More
 

HOLISTIC/COMPREHENSIVE
PLANNING

We’ll have discovery conversations, gather and organize your data, then craft comprehensive plans to achieve your life and financial goals. As our ongoing commitment, we consistently monitor and tweak your plan to ensure you’re on track and surprises are minimized.

Learn More

WE'VE BEEN LISTENING
FOR OVER 25 YEARS

Life brings many transitions. Find the right advisor to fit your needs on a fee-only basis, and take the first step in the journey. Total Wealth Planning's team of Certified Financial Planners® guides Cincinnati families and associates through transition.


Total Wealth Planning Associations
WE ARE PROUDLY ASSOCIATED WITH

CONTACT INFO


 

WHAT'S NEW AT TWP


       
CORPORATE EXECUTIVES

WEALTH-BUILDING FAMILIES

RETIREES

BUSINESS OWNERS
ECONOMIC OUTLOOK

BLOG & NEWS

VIDEO LIBRARY

   
4665 Cornell Rd. Suite 160, Cincinnati, OH 45241 4665 Cornell Rd. Suite 160, Cincinnati, OH 45241
513-984-6696 513-984-6696
info@twpteam.com info@twpteam.com
Total Wealth Planning named finalist in Cincinnati Business Courier's 2-10 Best Places to work!
Monday, September 16, 2019


SEE MORE >

Follow us on Google+
Blog & News
Follow us on Twitter
Find us on Facebook
DISCLOSURES | COPYRIGHT © 2019. TOTAL WEALTH PLANNING. ALL RIGHTS RESERVED.
GET STARTED
READY TO
GET STARTED?