Planning for Distribution: In almost all cases, we recommend a living trust, supported by "pour-over" wills which leave any leftover property to the trust. The trust is a fully revocable entity to which all or most assets are transferred, which then continues to exist after death and renders probate unnecessary in order to transfer assets at death.
Funding the Trust: We make sure that all real property is properly transferred into the trust, and provide you with a complete roadmap and any needed assistance to transfer all other types of property.
Avoiding Double Taxation: By using an A/B trust, we can avoid most double taxation for married couples. Otherwise, some money may be taxed at each death. In addition, although the minimum size of a taxable estate has been increased by recent legislation, there are still many estates where estate taxes may be a problem. We analyze the situation with you and then help to find alternatives that will help or to plan for any inevitable taxation.
Planning for Health Care Problems: We will prepare Advance Health Care Directives so that a spouse or trusted friend or relative is appointed to make health care decisions if you are incapacitated to the point where you can no longer make or convey your own decisions.
Planning for Financial Incapacity: We will prepare a Durable Power of Attorney so that a spouse or trusted friend or relative will be able to handle your financial matters in cases of incapacity.
Some Further Topics:
Why Avoid Probate?
Estate Planning FAQ
Planning for Incapacity
Documents and Information Needed for Estate Planning
Keeping Up with Changes in the Law
Maintaining Accurate Personal Data
When to Update an Estate Plan
The Durable Power of Attorney
More to Come -- Watch This Space