Wills & Trusts

     The future is uncertain. With this uncertainty, it is imperative that you take a moment to think about what can be done to ensure that you have implemented an estate plan that would be most beneficial to your loved ones. Our office has over twenty years of experience in assisting clients with their estate planning needs.

     When strategizing about your plan, you must first consider the property within your estate. The term property includes not only real estate but all of your assets, regardless of form. Remember to include bank and investment accounts, qualified retirement accounts, promissory notes and business interests. Do not forget tangible personal property, such as heirlooms and antiques, for which sentimental value can far exceed appraised value.

     Once we have had an opportunity to review your assets, we will be able to develop an estate plan that will fulfill your needs. There are two common tools used for estate planning. These are revocable trusts and last will and testaments.

     Revocable trusts are used to avoid probate and assist with avoiding taxes. This tool works as an independent entity; therefore, it can continue on once you pass away. Like a will, revocable trusts outline the distribution of your estate to your beneficiaries. Once all of your debts and taxes are paid, the distribution to your beneficiaries can be made quickly.

     Like revocable trusts, last will and testaments are used to also outline the distribution of your estate to your beneficiaries. However, if your estate is over $25,000 at the time of your death, the executor of your will will need to open a probate estate in order to distribute to your beneficiaries. This can be a time consuming process which will lengthen the time period in which your beneficiaries receive their inheritance.

     In order to assist us in developing the best strategy for you, it is most helpful for you to complete the asset worksheet. You may bring this to your initial appointment.

FORMS

ASSET WORKSHEET

APPOINTMENS & DISTRIBUTION WORKSHEET