Estate Planning |
"If anything is certain, it is that change is certain. The world we are planning for today will not exist in this form tomorrow" – Philip Crosby
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Our firm believes in personalized service for each and every client. Our approach is educational and proactive – we first determine each client’s individual needs, desires, and values, and then tailor their plan to best fulfill their dreams.
Whether your estate is large or small, Estate Planning is a must. Either way, you should designate someone to manage your assets and make health care and personal care decisions for you if you ever become unable to do so for yourself.
If your estate is small, you may simply focus on who will receive your assets after your death, and who should manage your estate, pay your last debts and handle the distribution of your assets. If your estate is large, your lawyer will also discuss various ways of preserving your assets for your beneficiaries and of reducing or postponing the amount of estate tax which otherwise might be payable after your death.
If you fail to plan ahead, a judge will simply appoint someone to handle your assets and personal care. And your assets will be distributed to your heirs according to a set of rules known as intestate succession. Contrary to popular myth, everything does not automatically go to the state if you die without a will. Your relatives, no matter how remote, and, in some cases, the relatives of your spouse will have priority in inheritance ahead of the state. Still, they may not be your choice of heirs; an estate plan gives you much greater control over who will inherit your assets after your death.
As Estate Planning Attorneys we provide service designed to:
There are several reasons for you to do estate planning. Here are just a few of them:
Ultimately, the reasons to do estate planning are specific to each and every family, and no two families are exactly alike.
Whether your estate is large or small, Estate Planning is a must. Either way, you should designate someone to manage your assets and make health care and personal care decisions for you if you ever become unable to do so for yourself.
If your estate is small, you may simply focus on who will receive your assets after your death, and who should manage your estate, pay your last debts and handle the distribution of your assets. If your estate is large, your lawyer will also discuss various ways of preserving your assets for your beneficiaries and of reducing or postponing the amount of estate tax which otherwise might be payable after your death.
If you fail to plan ahead, a judge will simply appoint someone to handle your assets and personal care. And your assets will be distributed to your heirs according to a set of rules known as intestate succession. Contrary to popular myth, everything does not automatically go to the state if you die without a will. Your relatives, no matter how remote, and, in some cases, the relatives of your spouse will have priority in inheritance ahead of the state. Still, they may not be your choice of heirs; an estate plan gives you much greater control over who will inherit your assets after your death.
As Estate Planning Attorneys we provide service designed to:
- Ensure your assets are all owned in the right way (you can have the best set of legal documents, but if your assets are not owned in the right way, it’s all been a waste);
- Make sure everyone you’ve named to take care of your life (your kids, the money you are leaving behind, and you if you cannot care of yourself) knows just what to do, if and when something happens;
- Capture and plan for your intangible assets – the values, insights, stories, and experiences – you would never want lost.
There are several reasons for you to do estate planning. Here are just a few of them:
- You want avoid a Conservatorship while you are alive if you become disabled;
- You want to avoid the Probate process for your family when you die;
- You need guardians for your young children, and you’re afraid that they might lose their inheritance;
- You have a special needs child or other beneficiary;
- You are concerned about your family fighting over their inheritance;
- You are worried that your estate might be lost due to an extended nursing home stay;
- You have a loved one in the hospital in a coma or dying;
- You are worried that your home or business might have to be sold after your death in order to pay for taxes, debts, or other fees and costs;
- You are in a second marriage, and you want to make sure that your share of the property passes on to your children or grandchildren and not to those of your spouse;
- You or your spouse are non-citizens, and you want to make sure that your property can be passed on to them
- You want to minimize or eliminate the federal estate tax (i.e. the “Death Tax”), preserve your estate, and pass it on to the next generation;
- You want to pass on your values to your children and grandchildren; OR You Want Peace of Mind!
Ultimately, the reasons to do estate planning are specific to each and every family, and no two families are exactly alike.
