The Firm’s attorneys and affiliates are well versed in assisting its clients in planning their estates and protecting their assets. Estate Planning is the process of establishing a plan for the inheritance of your assets and belongings and developing a strategy for minimizing or eliminating federal taxes and probate costs. Since every estate presents a different set of facts and circumstances and therefore, different planning considerations and strategies, it is important to review your specific estate with qualified, experienced legal counsel.
While planning for disability or death is something that most people often delay or simply don’t think about, it is critical for the protection of your family to establish a well thought out estate or long-term care plan. Failing to establish and implement an estate plan can be potentially devastating for your family. It is very important to safeguard yourself and your loved ones by seeking experienced, knowledgeable legal counsel to assist you with the establishment of a plan. For legal assistance in protecting and transferring wealth and assets from one generation to the next, please contact our office today.
The following are some of the areas we can provide assistance with:
- Estate planning
- Living Wills
- Heath Care Surrogates
- Lady Bird Deeds
- Life Estate Deeds
- Durable Power of Attorney
- Business succession planning
- International estate planning
- Asset Protection Planning
The foundation of the firm’s estate planning practice is the Revocable Living Trust. This is the primary tool the firm utilizes for probate avoidance. The Revocable Living Trust is the governing document used to transfer a person’s assets to their trust. A revocable living trust not only gives you complete control of your assets during her lifetime, but is also a flexible document which can be changed or revoked at any time before your death. In addition to the Revocable Living Trust, a thorough and complete estate plan will also likely include a Durable Family Power of Attorney which will allow family members to make decisions should you be unable to do so due to disability, a Living Will which will provide explicit instructions to family members on what medical treatment you would like to be administered if you become terminally ill or unable to make medical decisions, and a health care surrogate which is the appointment of a specific individual to make health care decisions for you when you are unable to make them for yourself.
The primary benefits of a Revocable Living Trust as part of an effective estate plan are as follows:
- Maintaining complete privacy
- Eliminating the necessity of probate as well as the expense of fees involved with the probate process
- Allowing almost immediate distribution to beneficiaries
- Eliminate any unnecessary estate taxes for married couples
- Eliminate the need for guardianship
- Avoiding ancillary probate proceedings
- Providing maximum flexibility in the event you want to modify your estate plan
Our Firm is dedicated to helping our client’s arrange and implement an effective plan to insure not only that federal taxes and probate costs are minimized or eliminated, but also to insure that their loved ones have peace of mind.