Estate Planning

Estate planning is the creation of a plan for managing, preserving, and distributing your assets both during your lifetime and after your death. A well-drafted and properly implemented estate plan ensures your wealth is transferred only to the beneficiaries you choose, protects your family from the time, expense and publicity associated with judicial probate of your estate, avoids court-appointed guardians if you die while your children are still young, and reduces or totally eliminates the burden of estate taxes after your death. Estate plans can also contribute to family harmony and a smooth transition of your wealth to the next generation.

We can customize your estate plan to make sure your assets pass when you want, how you want, and to whom you want by using some or all of the following methods:

Standard Estate Plan Package. The typical estate plan includes a Revocable Living Trust where you, as the settlor, appoint trustees to manage the trust should you become unable to do so, designate the beneficiaries of your estate, and dictate the timing of distribution of your assets to your beneficiaries after your death. You can amend or revoke the trust at any time during your lifetime. Depending on your financial and marital situation, the trust may split into one or more sub-trusts at your death (A-B Trust/A-B-C Trust). A standard estate plan also includes:

  • Pour-Over Will transferring assets left outside your trust into the trust at your death;
  • Durable Power of Attorney appointing someone to handle your financial affairs in the event you are rendered mentally or physically unable to do so;
  • Advance Health Care Directive instructing your family how you want your medical treatment handled in the event you become seriously ill or injured; and
  • Miscellaneous transfer documents necessary to properly fund the trust, such as quitclaim deeds, beneficiary designation forms, marital property agreement, etc.

We can also assist you with your other estate planning needs including:

  • Business Succession Planning
  • Charitable Giving
  • Lifetime Gifts
  • Probate and Trust Administration
  • Irrevocable Life Insurance Trust
  • Family Limited Partnerships