Our firm offers assistance in all aspects of Estate Planning. We understand that every client’s wishes are different, and above all else, personal. Planning for your estate will ensure that your property and health care wishes are honored, and that your loved ones are provided for after your death.
An estate is comprised of one’s real estate, bank accounts, investment accounts, insurance proceeds, tax deferred accounts, business interests and personal property. Proper estate planning allows for the distribution of one’s real and personal property to their loved ones and seeks to maximize the family’s inheritance.
Estate planning is the process by which an individual or family arranges for minimizing financial ramifications and achieving the personal goals of the individual regarding their estate. A proper estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries and flexibility for the individual prior to death. In addition, drafters of estate plans must be aware of the potentially negative impact of Federal and State tax laws.
With a proper Estate Plan, one can:
• Avoid probate upon death
• Avoid conservatorships in the event of a disability
• Offer Creditor Protection for beneficiaries
• Help to secure Failed Marriage Protection for children
• Name guardians for minor children
• Protect assets from creditors
• Create and Protect rights for unmarried couples
• Establish Protections for children with special needs
• Save on Federal and State Estate Taxes
• Name representatives for Health Care Decisions