Estate Planning

In our practice, we take time to understand you, your family, and your goals so that your plan will be tailored to your circumstances. We explain options for structuring your estate to minimize taxes and fees and for ensuring that your assets are distributed as you choose. We keep you involved in the process.

We offer a free initial consultation, and we can meet at your home if mobility is an issue. Meetings can be arranged on weekends or evenings if weekdays are not convenient.

What does an estate plan involve?

Typically, an estate plan includes a living trust, a pour over will, a durable financial power of attorney, and an Advance Health Care Directive.

The living trust allows you control of your assets during your life (or until you become incapacitated) and then passes those assets to your chosen beneficiaries without an expensive and time consuming probate process.

The pour over will is a simple will that catches any extra assets and "pours" them into the trust after your death.

A durable financial power of attorney allows another person control of your finances, which is particularly important if you become incapacitated.

An Advance Health Care Directive states the care you desire if you are incapacitated and allows another person to make medical decisions for you.

You can read more about each of these legal devices in our "Learn More About . . ." section. In addition, we help you determine whom to name as beneficiaries for assets that often are not put into living trusts, such as life insurance, retirement funds, and education funds.

  

Who needs an estate plan?

  

Almost everyone. An estate plan is not just for the wealthy.

A will is essential for anyone with minor children because it is the place to name a guardian. Everyone with a house or assets worth more than $100,000 should consider a living trust; otherwise the house and other assets pass through probate, which is time consuming and expensive. If you should become incapacitated, and you don't have a financial power of attorney or a living trust, a court will need to appoint a conservator to take care of your finances. This is a process that costs money and may result in a conservatorship that you would not have chosen. And without an Advance Health Care Directive, you cannot ensure that your desired medical choices will be carried out or that the person of your choice will have authority to make decisions for you.

Our estate planning clients include all of the following:

• parents with young children;

• parents with adult children who cannot handle money responsibly;

• established people with significant assets;

• elderly people dealing with medical costs;

• and family business owners looking to pass their business to the next generation.

 

How can we help you?

 

We can start you off with a free consultation. This is an opportunity for you to talk about your goals, learn about estate planning options, and make an informed decision about how to proceed. At the meeting, we talk about your family or other beneficiaries, your assets and net worth, your concerns, and any circumstances that could affect your estate planning decisions. You should bring a list of  your major assets and their approximate values, and any trusts or wills that you have. By the end of the meeting we will usually be able to offer you a flat fee for preparing your estate plan, but you have no obligation to go forward.

We make the process as easy as possible. We can schedule appointments in the evenings and on weekends when needed. We can meet at a client’s home when needed.