Estate planning is the process of anticipating and arranging for the well organized transfer of property at the time of death. It allows you to control the disposition of your assets after you are gone and to appoint the individuals that you want to act as guardians and trustees for minor children or disabled individuals. Estate planning will give you peace of mind, eliminate uncertainties over probate and maximize the value of your estate by reducing taxes and other expenses.
Estate planning can involve wills, trusts, beneficiary designations, property ownership (i.e. joint tenancy, tenancy in common), gifts, living wills, and powers of attorney (financial power of attorney and medical power of attorney). Specific final arrangements, such as whether to be buried or cremated, are also often part of the documents. More sophisticated estate plans may even cover deferring or decreasing estate taxes or winding up a business.
What estate planning means to you specifically depends on your unique circumstances and your goals. Our goals are: to do our best to understand each client and their unique circumstances; to effectively communicate the law affecting each client’s situation; to prepare documents that meets each client’s unique needs; and to work with every client so that they understand their estate planning documents.