Estate Planning
Estate Planning is a general term which in a legal context refers to an attorney who focuses on helping clients manage their affairs and prepare for events such as incapacity or death. This planning allows the client to determine who will manage their money and health when they cannot because of incapacity. Additionally, this planning captures the client’s wishes into a legally binding document which specifies how their assets will be passed on to their loved ones. We use things such as Wills, Trusts, Durable Powers of Attorney and Advance Health Care Directives to achieve the clients goals. There are many additional documents that can make up an estate plan which is where the expertise of an attorney is critical. Things such as assignments of assets and transmutation agreements to name a few can be the critical key as to whether an estate plan will achieve the clients goals or fail miserably in court. Learn more about Wills, Trusts, Advance Health Care Directives and Durable Powers of Attorney
Probate
Probate is the court process where decedent’s assets are transferred to the legal beneficiaries of those assets. Our firm has helped many people who have relatives that have passed on without an estate plan or worse yet who had an estate plan that failed. In those cases a probate was required in order to take control of the assets. Probate Court has many procedural nuances that if not followed exactly can cause severe delay in the transferring of assets. Working with an attorney can greatly reduce the delays and create the best outcome possible. Learn more about Probate.
Trust Administration
Trust administration refers to the period between the time the trust is created and the termination of the trust. During this period many things can happen which may negatively effect a trustee or the trust. Seeking advice from an attorney to protect the trustee and the trust is one of the wisest things a trustee can do and in fact they may have a duty to do under the eyes of the law. Things such as incapacity of the settlor, death of one or both of the settlors or changing of the assets can all occur along with other situations which will require the advice of an attorney. Moreover, if the trust is a Special Needs Trust the trustee is generally very active and encounters many situations where an attorney will be invaluable in navigating the law and the trustee’s duties. Finally, the trustee is always on the hook for his or her actions. It is all too common for a child of the settlor to be the trustee and make administration mistakes which can cost them personally and create a situation where the trust must be reimbursed from the child’s own money. Learn more about Trust Administration.
