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 significant tax losses and unforeseen problems affecting close family relationships.
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.
Having a professional to properly advise you based on your particular situation will ensure that your wishes will be carried out and that your intended beneficiaries will enjoy the benefits you intended them to have without any unnecessary disputes or complications.
Important Things to Consider
- Your situation is unique. Are you married or in a domestic partnership? What about Nonmarital Cohabitation where one of you owns the house? What about a blended family where either or both of you have children from prior marriages?
- At times of need or grief, it becomes very difficult to deal with your emotions. It is even more difficult to deal with the complexities of the many inter-related legal matters that need attention.
- You deserve the help of a professional counselor who can personalize an estate plan for your particular circumstances and/or help you through difficult times.
- Computer software programs and mail order programs do not provide you with the personalized and professional advice you need.
- Carefully considering the proper people to take the various roles that need to be taken around you (successor trustee, health care agent, attorney-in-fact) is crucial to a successful and positive plan and the avoidance of conflict within a family at times of stress or grief.
- There may be income, estate and gift tax issues to consider in structuring your estate plan.
Examples of Estate Planning Services Offered
- Advance Health Care Directives
Allows your health care 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 Powers of Attorney
Allows 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 Court-supervised Conservatorship may become necessary.
- Charitable Giving