Estate Planning Tools

Flynn Sellers, PLLC enjoys working with clients one-on-one to create tailored wills, trusts, powers of attorney, and other medical documents that best fit the needs of each client.

Depending on your specific circumstances, your proposed estate plan may include some or all of the following estate planning tools:

A Last Will and Testament (“Will”) allows you to express your wishes on how your

property is to be distributed at death. A Will can also provide other benefits, such as noting your guardianship preferences for minor children.

Before assets can be distributed to those named in a Will, the Will must first go through the process of probate. Although the process can vary by county, the probate process generally includes verification and recordation of the Will, appointment of an executor (who assists with the probate process and distributes the property), inventory and appraisal of the assets, settlement of any creditor claims, and distribution of the remaining property. 

Although the probate process in West Virginia may be quicker than those in other states, many choose to avoid probate by utilizing other estate planning tools, such as trusts.

In the event that you die without a Will, the State of West Virginia has established a set of rules by which your property will be distributed, known as intestate succession.

A Testamentary Trust is a trust that is established in a Will and created upon death.

Although this type of trust would not avoid the probate process, it is often used to add conditions or other parameters with respect to distributions to minor children or grandchildren.

A Revocable Trust is a trust created during your lifetime that has the added benefit of giving you the power to change or revoke the trust at any time during your life. If properly funded, assets in a trust will avoid probate.

An Irrevocable Trust is typically used for more advanced planning, such as for asset protection purposes, Medicaid planning, etc. These types of trusts typically cannot be altered after their creation.

A Special Needs Trust (also known as a “Supplemental Needs Trust”) offers a unique

opportunity to provide for individuals with disabilities without compromising the state or federal benefits they receive. 

This type of trust can be funded with either the assets of a third party or the assets of the individual with disabilities. This can be an incredibly helpful tool if the individual is to receive a large amount of money from a settlement or receive an inheritance.

A Pet Trust allows you to set funds aside to be used specifically for your pet’s care and maintenance. You’re also able to name a caretaker for your pet and provide detailed instructions with respect to your pet’s care.

A Power of Attorney (often referred to as a “financial power of attorney”) document

authorizes someone you have selected to make decisions and act on your behalf with respect to your property and assets. 

This document can be tailored to grant as little or as much power to your agent as you wish. With proper drafting, a Power of Attorney can be incredibly helpful if you become incapacitated and need help paying bills or otherwise managing your assets.

In the event that you are not able to make decisions regarding your own health care

due to incapacity, a Medical Power of Attorney allows trusted individuals that you have designated in advance to make those decisions for you.

Despite having a similar name, a Living Will is very different from a Last Will and

Testament. Where a Last Will and Testament allows you to record how your property is to be distributed at death, a Living Will states in advance your medical treatment preferences in end-of-life situations when you are unable to communicate those decisions yourself. 

A Living Will is often combined with a Medical Power of Attorney.

The Health Insurance Portability and Accountability Act (commonly known as “HIPAA”) gives you rights over your medical and health records. A HIPAA Authorization and Release allows healthcare providers to share your protected health information with trusted individuals you have designated. 

Combined with the Medical Power of Attorney, this form may provide

the background and context your loved ones need to make informed decisions regarding your health.