Proper estate planning ensures that, once your debts are settled, your estate will be distributed according to your wishes — to whom you want, when you want, and in the manner that you want. However, many people think that estate planning is only about distributing assets after death and minimizing taxes. While this is part of it, a comprehensive estate plan accomplishes much more.
Estate planning is about planning for every stage of life, not simply what happens after you pass away. For example, an estate plan can help ensure that your children will be well cared for if something happens to you or your spouse. It can protect your assets from the cost of long-term care and give you control over your financial and healthcare decisions if you become incapacitated. Estate planning gives you control and the peace of mind that comes with having a plan in place for the future. LEARN MORE
Estate administration occurs after the death of a loved one. If your loved one had a Trust, then the process that your Successor Trustee will follow is called Trust Administration. In the event your loved one passed away with only a Will or no plan at all, that process generally requires a court proceeding called Probate.
The process of Estate Administration involves gathering all estate assets, paying any debts that are outstanding and any taxes that are owed, and then distributing the remaining assets to the estate’s heirs. Since there are many legal requirements that must be completed with specific deadlines, having the services of an attorney that practices in this area is recommended. If you have been called upon to administer an estate or serve as Trustee, we can help you. We can guide you every step of the way. Contact us today to discuss your particular situation and needs. LEARN MORE
We can serve you in choosing the most beneficial entity in starting your business and putting the proper legal structures in place to effectively manage and grow your business. We look forward to serving you and providing sound legal advice and guidance in whatever stage you are in, whether you are about to embark on a new business venture or already have an established business in place. LEARN MORE