- Proper Estate Planning
Proper estate planning allows you to be confident that what you have will pass to whom you want, the way you want, and when you want, with the least amount of taxes and professional fees possible. See the 'Proper Estate Planning' page elsewhere on this website.
- Wills
A Last Will and Testament is a legal instrument which, when executed and valid under State law, will allow the property of a deceased person to pass in accordance with their wishes. There are advantages to using a Will to transfer property after death, and there may be disadvantages. However, if a person dies without a Will or any other estate planning documents, the property of the deceased person will pass according to the laws of intestacy.
- Revocable Living Trust
A revocable living trust is a common estate planning technique which can avoid the probate process for assets held in trust. The revocable living trust is an agreement in writing between the person making the trust (the Trustmaker) and a person who will be trusted to carry out the terms of the trust (the Trustee).
The Trustmaker transfers property to the Trustee, to be held in trust according to the terms of the written agreement. This property is treated as if it were placed into an imaginary box, with instructions written on the box by the Trustmaker. The Trustee holds the box and follows the instructions to carry out the wishes of the Trustmaker.
Upon the death of the Trustee, the box is passed to a new Trustee, named by the Trustmaker. The assets in the trust remain in the control of the successor Trustee until the terms of the trust require the assets to be distributed according to the Trustmaker's instructions.
The Trustmaker transfers property to the Trustee, to be held in trust according to the terms of the written agreement. This property is treated as if it were placed into an imaginary box, with instructions written on the box by the Trustmaker. The Trustee holds the box and follows the instructions to carry out the wishes of the Trustmaker.
Upon the death of the Trustee, the box is passed to a new Trustee, named by the Trustmaker. The assets in the trust remain in the control of the successor Trustee until the terms of the trust require the assets to be distributed according to the Trustmaker's instructions.
- Probate of Estate
The probate of an estate is a court proceeding to identify and locate the assets of a deceased person, collect and manage these assets, and then transfer the assets to the persons entitled to receive them according to the Last Will and Testament or the laws of intestacy if there is no valid Will. A Personal Representative is appointed by the Court to carry out these duties, and a complete accounting of the actions of the Personal Representative must be made to the Court unless waived by the interested parties.
- Trust Administration
A Trustee may need professional expertise and advice in the administration of the trust after the death of the Trustmaker. The assets need to be identified and located, collected and managed, and then transferred to the proper beneficiaries. The Trustee has the authority to administer the trust according to its terms, and in most circumstances would not need court supervision and the probate process can be avoided.
- Real Estate
The transfer of real estate from one party to another is a process that requires knowledge, skill and expertise. The title to the real estate must meet a standard of marketability and there are many laws and regulations that govern these transactions. It is important to have a competent professional assist you in real estate transactions. This assistance can be in the form of drafting purchase agreements, deeds, mortgages, deeds of trust, easements, leases or protective covenants.
- Medicaid Planning
It sometimes becomes necessary to seek public assistance for the cost of caring for a loved one in the nursing home. There are complex rules which need to be followed in order to qualify for Medicaid assistance, and proper planning may be needed to prevent a disqualification of benefits. Before taking any action, call and schedule an appointment for a Medicaid planning evaluation. You need to get the facts and learn if your circumstances allow Medicaid planning strategies.
- Business Entity Planning
In some circumstances, it is important to establish a business entity, such as a corporation, partnership (general or limited), or limited liability company (LLC). Each type of business entity has advantages and disadvantages to consider, including the taxation of income, liability of owners, shareholders and members, and voting and control issues.
- Corporate Counsel
When a business entity exists and is transacting business, there may be a need for ongoing legal services. There may be questions about voting or transfer of stock, corporate minutes to prepare, or other legal advice needed. An ongoing relationship with a competent attorney can be very beneficial to the business owner..
- Elder Law
As a person ages, sometimes it becomes necessary to protect their interests and assist them in handling their business affairs. Powers of Attorney may be needed for financial matters or Health Care matters in order to give a trusted loved one the authority to help an elderly parent or family member.
- General Litigation
Unfortunately, we are, by nature, sinful. When the inevitable dispute occurs, it is always wise to have legal representation with you to guide you through the process and be your advocate.