Estate Planning
Estate Planning is not only the process by which you're able to protect your assets and independence during your lifetime in the event of a physical or mental incapacity, but also is the process by which you're able to guide and protect your family after death.
Estate Planning Attorney
and Living Trusts to help protect your assets and independence should you be struck with a physical or mental incapacity. This may avoid a costly court conservatorship proceeding. It may also avoid long delays of desired financial transactions.You may also utilize a health care proxy. This document may avoid a costly court guardianship proceeding. You may utilize a special irrevocable trust to protect some or all of the assets from an incapacity which may turn into a Long Term Care illness.
You may execute a Will to bequeath assets to specific individuals of your choice. This may avoid having the state determine which people inherit your assets. In addition, you can name Guardians for your minor children in their Will. This may avoid the court choosing a Guardian without your recommendation.
You may also utilize Living Trusts to help protect your family after death. This may avoid the costly probate process and will keep the assets confidential by avoiding have to make the estate a matter of public record. In many cases, federal estate taxes and state estate taxes can be reduced with credit shelter trust provisions and marital deduction trust provisions.
Finally, if you have children or a spouse with special needs, disabilities, or the inability to manage assets prudently, there is a variety of trusts, including special needs trusts, supplemental needs trusts, irrevocable trusts, dynasty trusts, which may be drafted to protect your family members with special needs.
Contact us to arrange a free consultation with Estate Planning Attorney Adam J. Tobin or to learn more about estate planning.