We create and draft custom estate plans that are tailored specifically to our clients and their needs. When it comes to estate planning, there is no such thing as one size fits all. The complexity of the plan depends on our clients’ estates and their estate planning goals. We work with our clients, along with their financial and tax advisors, to develop and implement comprehensive and personal estate plans that minimize the potential for taxes and litigation.
Clients are often surprised to learn that everyone has an estate worth planning. Contrary to common perception, planning is not only for “retired” people or “wealthy” people. Estate planning truly benefits everyone, regardless of such factors. Planning in advance allows clients to determine how their property will be transferred when they pass away. Further, creating an estate plan helps clients ensure they have the right people taking care of their children or themselves should they become incapacitated. We refer to these individuals through the design process as “helpers.” We spend a lot of time with our clients making sure they designate “helpers” they trust given the large role they play in either the care of the incapacitated client or in the administration of the estate.
There are numerous other reasons to plan in advance, including protecting assets for children should a spouse remarry; ensuring a beneficiary with special needs does not have government benefits disrupted, minimizing tax liability, and avoiding probate, Spouses often worry that the surviving spouse might unintentionally disinherit their children by marrying again. The survivor may wish to provide for the new spouse and leave all of his or her assets to that new spouse. When the surviving spouse passes away, all of the assets go to the new spouse. The new spouse may then choose to leave all of the assets to his or her own children, thereby disinheriting the survivor’s children. Unfortunately, this scenario is occurring with increasing frequency. However, we can plan around such concerns.
When we prepare an estate plan for our clients, we include vital additional documents such as an Advance Directive, Power of Attorney, Disposition of Remains, and Certification of Trust. We also provide funding services for revocable living trusts so that the trusts work properly without clients having the headache of funding it themselves. Call today to set up a free consultation. We would love to work with you to identify your specific concerns and needs.