Let us inform you of your estate planning options and guide you in making decisions to meet your individual needs.
Do you need help with drafting a will or establishing trusts?
Let us help you answer that question. Estate planning involves more than just merely drafting a Will. The value of your assets, how they are titled, where they are located, and how they will be taxed at death are all factors to be considered in estate planning.
Other considerations that are just as important are the designation of an Executor to administer the estate, Guardians for the care of minor children and Trustees for the administration of any trusts that may be created.
The use of Trusts in estate planning is also common. Testamentary Trusts, such as Minors’ Trusts and Special Needs Trusts, are used to provide for children and individuals with special needs or disabilities.
Whereas Credit Shelter Trusts or Bypass Trusts are used to minimize the impact of Federal Estate Taxes, where applicable. Inter-vivos Trusts, such as Living Trusts, may also be appropriate in certain circumstances.
What if I do not pass away, but am disabled or incapacitated?
Estate planning also involves planning for disability or incapacity during your lifetime. The designation of an Agent under a Durable Power of Attorney provides for the management of your finances should you be unable to do so.
The designation of a Health Care Agent under a Health Care Power of Attorney provides access to your medical records and communication with your physicians immediately, and management of your care if you are unable to do so yourself. A Health Care Power of Attorney also states your desires for end-of-life medical care and treatment under a Living Will/Advance Directive for Health Care clause.