Estate Planning & Probate Administration
Estate Planning: Many people fall into the trap that estate planning is only for the wealthy. Having a Will in place along with other estate planning documents is an essential step in ensuring control over your personal & financial matters and protecting the needs of your loved ones! Every situation is different and circumstances change over time. At a minimum, you should have the following documents in place:
- Wills
- Power of Attorneys
- Health Proxies
- Living Wills
Click here to learn about the Simple Legal Documents You Should Establish for Your Legal Protection.
Certain situations require more advanced planning for the purposes of minimizing estate taxes, avoiding probate, establishing a gifting program, caring for a disabled child and long term care planning. This planning may require the following:
- Revocable Living Trusts
- Irrevocable Trusts
- Education Trusts
- Life Insurance Trusts
- Disability or Supplemental Needs Trusts
- Real Estate Transfers
- Personal Care Contracts
- Corporations
- Limited Liability Companies or Partnerships
Click here to view my report on What You Need to Know About Estate Planning.
Probate Administation: Probate is the legal process by which property owned individually in a person’s name or payable to their estate is distributed on death. Probate can be a long and frustrating process, especially if it not done correctly or if there is a lack of communication from the attorney. We take pride in staying in constant contact with our clients every step of the way. Our goal is to familiarize you with the process so you know what is going on. Click here to learn about the Personal Representative/ Executor’s Duties
Guardianship Petitions: If a person is unable to handle their own personal and/or financial affairs it may be necessary to petition the Probate Court to have someone appointed to act on their behalf. Guardianship may be required to access assets, establish an estate plan, sell real estate, qualify for medicaid or initiate litigation. The Guardianship process, in many cases, may be avoided by use of simple estate planning as discussed above, while you are legally competent. As with probate administration, our goal is to familiarize you with the process.