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In today’s complex world, planning for the future disposition of your
estate has never been so important. The wrong plan (or no plan) can result
in substantial tax losses that could otherwise be saved for your heirs and
descendents.
Wills and Trusts are two of the most common ways of addressing these issues.
With respect to Trusts, many types exist: revocable, irrevocable, charitable
remainder, bypass, and so on. The combination of tools that is right for you
depends entirely on your specific circumstances. You need a professional to
properly advise you for your particular situation. Computer software programs
and “Trust Mills” do not provide you with the personalized and professional
advice you need. Your beneficiaries and heirs deserve more.
Important Things to Consider
 | The estate tax rate on amounts not covered by the exemption amount is 35% for deaths occurring in
2011. |
| Income taxes may also be triggered on death. |
| A rollover of an IRA to a spouse can avoid income tax being triggered at
death. |
| Your situation is unique. You deserve the help of a professional
counselor who can personalize an estate plan for your particular
circumstances. |
| Computer software programs and mail order programs do not always provide
you with the personalized and professional advice you need. |
| You can help your heirs and beneficiaries by careful planning now, before
the need arises. |
Examples of Planning Services Offered
| Wills |
| Trusts |
| Family Limited Partnerships |
| Gifting |
| Charitable Giving |
| Life Insurance and Annuities |
| Estate Planning in the Context of Marriage |
| Estate Planning in the Context of Nonmarital Cohabitation |
| Estate Planning in the Context of Subsequent Marriages |
| Postmortem Planning |
Conservatorship and Probate
When a family member or friend loses competency, what should you do? Is it
appropriate to establish a Conservatorship to protect them or take care of them?
When a family member or friend passes away, how should you handle the
situation? Is a Probate appropriate or necessary?
Conservatorship
Conservatorship is a Court-supervised proceeding while the Conservatee is
alive. Conservatorships are either "of the person" or "of
the estate". In either case, the person has reached a point where
they cannot take care of their personal needs adequately (food, clothing,
shelter, etc.) or they cannot resist fraud or the undue influence of others
(whether friends or family) and therefore need someone to protect them from
losing their estate.
Probate
Probate is a Court-supervised proceeding after a person has passed away.
If they have passed away with assets that were not otherwise disposed of by a
form of contract (life insurance, retirement plans, etc.) or by another legal
device such as a trust, their estate may need to be administered by a personal
representative (such as an executor). In some cases, however, estates do
not have to be formally administered (most commonly in the case of a spouse
passing away leaving another spouse living or in the case of a small estate).
Important Things to Consider
| Powers of Attorney become invalid when the grantor of the power becomes
incompetent unless the powers are "durable". |
| At times of need or times or grief, it becomes very difficult to deal with
your emotions. |
| At such times, it is even more difficult to deal with the complexities of
the many inter-related legal matters that need attention. |
| You owe it to yourself to seek professional counsel to help you through
those difficult times. |
Examples of Services Offered
| Spousal Property Petitions |
| Probate Representation |
| Conservatorships |
| Advance Health Care Directive - The Advance Health Care Directive permits the holder of the
power (your agent) to make life and death decisions concerning your health care. This includes the right to terminate life
support in an appropriate case. This document gives guidance to your
personal agent concerning how you would like to be treated if you are unable
to make decisions yourself. |
| Durable Power of Attorney (General) - This document gives the holder of
the power (your attorney-in-fact) the power to do everything (or specified
things) that you could do yourself if you were competent. Without this
kind of power of attorney, a Conservatorship would become necessary in order
to vest that power in your Conservator unless the Power is
Durable. |
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