In the management and disposition of business and professional interests, there are many tools available for building a practical family estate plan. Sensible family estate planning requires consideration of the means of continuing or liquidating the business, or interest therein.
We help clients organize their business in a manner that dovetails with their estate planning objectives.
A will is an essential—and often critical—component of a person’s estate plan. In the absence of a validly executed will, state law controls how a person's property will be disposed.
We want each client's wishes to control. Therefore, we believe a will is an essential estate planning device for each client.
But simply having a will is not enough. Unfortunately, sloppy will writing has become widespread. As a result, will contests and construction proceedings are prevent.
We use clear, precise, and unambiguous language to ensure that your testamentary intent is clearly ascertainable—without family fights.
Help us grow and protect your business. Contact us today for a free and confidential consultation. We respond to all inquiries within one business day.
Gifts may be an extremely useful planning tool to you. Assets transferred during your lifetime will not be subject to probate. Additionally, making gifts during your life may reduce your taxable estate.
An advanced healthcare directive gives an agent you nominate the ability to make medical decisions for you if you become unable to make those decisions for yourself.
An advanced healthcare directive also addresses some end of life issues, making your wishes known. It makes clear whom you want to make decisions for you and gives your healthcare agent some guidance, which minimizes the chances of disputes if family members disagree about a course of action.
We draft advanced healthcare directives that greatly reduce the likelihood of a court ordering a guardian to make healthcare decisions for you without your consent.
Without a power of attorney in place, on your incapacity, there may not be anyone with authority to make financial decisions on your behalf without a court proceeding.
A power of attorney allows a client to authorize a third party to manage the client's property and financial matters. We draft powers of attorney for our clients to avoid court battles and to ensure that our client's chosen representative manages his/her property and financial affairs.
Planning an estate requires knowledge, care, and experience. We caringly and diligently listen to our clients. The instruments we produce are expertly-drafted and personally tailored to meet each client's estate planning objectives.
The trust is perhaps the greatest estate planning tool available to you. Its flexibility allows you to accomplish varied and significant objectives.
Below are just some examples of how we use trusts to benefit our clients:
Life insurance is often a key component of a client's estate. If you own a life insurance policy outright, the proceeds of that policy may very well trigger an estate tax liability where there otherwise would be none.
However, with proper planning, those life insurance proceeds can be excluded from your estate entirely. If your life insurance policy is held in a properly funded and administered irrevocable life insurance trust instead of owned outright by you, the value of the proceeds of the life insurance policy are generally removed from your estate, providing substantial tax savings.
A charitable trust is an irrevocable trust created to benefit a charitable purpose. When drafted and administered properly, a charitable trust can provide income, gift, or estate tax benefits. If you are charitably included but prefer to retain some control or ownership interest over the assets you want to donate, rather than make an outright transfer directly to a charity, a charitable trust may be particularly useful.
A revocable trust is an estate planning tool generally used to: avoid probate, to maintain privacy in the administration of your estate, and to manage and transfer assets in the event of your incapacity or death. It is a standard and quite useful estate planning tool.
Supplemental needs trusts allow a disabled or needy person to continue to rely on government programs for basic support and maintenance while receiving supplemental support for his/her unmet needs. It's the best of both worlds: receiving additional support without losing government support.
Disclaimer: This website does not provide legal advice. Do not act or refrain from acting based on any information you receive from this website. Contact our firm or another licensed attorney in your state for legal advice.
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