Estate Planning
Helping Families Build Estate Plans That Work
Consider the following definition of estate planning:
I want to control my property while I’m alive and well, and make a plan in case I become disabled.
I want to plan so that when I pass, I leave what I have to whom I want, the way I want, with the least amount of difficulty for me and my loved ones.
This simple definition of estate planning is our roadmap.
Estate plans can be centered around either a Will or a Trust. The choice is the client’s and is primarily determined by the amount of control and protection the client wishes to have over the assets.
Whether an estate plan is Will-based or Trust-based, it is vitally important that in addition to preparing the documents, all the client’s assets are properly titled to work in conjunction with the estate plan. This is a step too often forgotten, or put off to another day.
I always assist families with Trust funding, and encourage clients to commit to estate plan maintenance, so that all assets are coordinated with the plan, and descendents do not inherit a “mess.” One of the greatest gifts and legacies a person can leave to descendants is a well-organized estate plan that has been well maintained — an estate plan that can be implemented in an efficient manner. My primary goal is to assist clients in leaving such a legacy.
Some families need more sophisticated estate plans. If family members have special needs and receive or will receive government assistance, a Special Needs Trust is essential to hold assets that will supplement those benefits. If a family must be concerned about estate taxes, there are a number of tools available to reduce the impact of estate and gift taxes. Just a few examples are Irrevocable Life Insurance Trusts; Grantor Retained Annuity Trusts; and Charitable Split-Interest Trusts.
I want to control my property while I’m alive and well, and make a plan in case I become disabled.
I want to plan so that when I pass, I leave what I have to whom I want, the way I want, with the least amount of difficulty for me and my loved ones.
This simple definition of estate planning is our roadmap.
Estate plans can be centered around either a Will or a Trust. The choice is the client’s and is primarily determined by the amount of control and protection the client wishes to have over the assets.
Whether an estate plan is Will-based or Trust-based, it is vitally important that in addition to preparing the documents, all the client’s assets are properly titled to work in conjunction with the estate plan. This is a step too often forgotten, or put off to another day.
I always assist families with Trust funding, and encourage clients to commit to estate plan maintenance, so that all assets are coordinated with the plan, and descendents do not inherit a “mess.” One of the greatest gifts and legacies a person can leave to descendants is a well-organized estate plan that has been well maintained — an estate plan that can be implemented in an efficient manner. My primary goal is to assist clients in leaving such a legacy.
Some families need more sophisticated estate plans. If family members have special needs and receive or will receive government assistance, a Special Needs Trust is essential to hold assets that will supplement those benefits. If a family must be concerned about estate taxes, there are a number of tools available to reduce the impact of estate and gift taxes. Just a few examples are Irrevocable Life Insurance Trusts; Grantor Retained Annuity Trusts; and Charitable Split-Interest Trusts.