ESTATE PLANNING

Estate planning results in different things for different people and we do not believe in the "one size fits all" methodology.  Your needs and objectives are based on many factors such as age, family, health, wealth and business interests. As these factors change, so would your needs and objectives. For that reason, plans need flexibility to adapt to these changes. 

There are many options to estate planning and it is important to understand what options are appropriate or applicable for you. For example:

Why it is important to have a will?

Which assets should be disposed of in your will and which should not?

How to avoid probate, and do you need to?

Who and when should you grant your agent(s) authority to make your medical and financial decisions for your when you cannot?

Who and when should you grant your agent(s) guardianship for you or your minor children?

What type of trust is right for you based on your factors?  What is the difference between revocable and irrevocable trusts?

Do you need other trust features?

• Supplemental or Special Needs 
• Medicaid Asset Protection 
• Life Insurance 
• Charitable Giving 

How to fund and administer a trust?

What are the advantages and limitations of controlling, protecting, or transferring assets by will, trust, or gift?

We can create a plan allowing you to: pass down and preserve wealth, provide for business succession and continuity, make gifts including charitable giving, and provide care for yourself and loved ones, as you age.  

Clients will often say they do not have much and just need a "simple will" failing to realize these matters can be complex.  Not only is there is no such thing as a "simple will", but these matters are extremely personal and charged with emotion. This is why we provide a personalized service, working with our clients through the technical and human concerns toward a single, unified perspective: defining, prioritizing, and achieving their ultimate wishes.  The plans we create may ensure the orderly transfer of property to the desired recipients, reduce--and perhaps eliminate--the tax burden, and/or provide much needed funds to support a love one after you are gone.  

We may also plan for liquidity to pay taxes and costs, and insulate assets against creditors' claims.  Additionally, disharmony may surface among a decedent's surviving family members and friends. We may put legal precautions in place to prevent conflict.  The best plans are those that include input from your accountants, financial planners, investment and insurance advisors, custodians, and trustees. We welcome all of your trusted advisors and professionals to consult and coordinate with us on your estate plan as needed.  Types of matters that we can address as a team include, but are not limited to:  

• The various federal and state taxes that may be triggered and how to lower your exposure, if possible
• How insurance and annuities may assist in your plan
• How to provide resources for loved ones with disabilities
• Which assets to liquidate and which to retain based on tax considerations

It is important to note that we are a legal firm and only provide legal advice. We do not provide tax, financial or investment advice. We will work closely with your accountant and other financial professionals to effectuate your plan.

We help you plan ahead for life events that may render you incapacitated, or unable to act for yourself for any reason, like having to quarantine. In order to care for your minor children or family members with disabilities, protect and manage your assets, and honor your wishes regarding medical treatment, various documents may be executed, such as:  stand-by guardianship, general durable powers of attorney, advance health care directives, living wills and appointing an agent to control the disposition of your remains. In addition, the powers granted in these documents are tailored to your specific requirements and needs, and may provide for successor or dual agents to you are covered in the event your initial agent is unable to perform for any reason.  

For individuals with disabilities who are unable to handle their own affairs, we can make sure that funds are set aside and protected so that they are used for the individual's benefit. This type of planning is specific to each individual's circumstances, needs, resources and benefits. We welcome you to discuss your specific case with us in detail.