Estate planning may be defined as a series of steps you take now to protect yourself and your assets during your lifetime and to protect and provide for your loved ones in the manner that you wish after you are gone, using every legal strategy available to minimize your taxes and protect your assets.
Estate planning involves much more than simply drafting wills in order to distribute assets. Some of the many other goals that may also be involved in the planning process include to:
- avoid the often significant costs and stress involved with probating a will;
- appoint guardians for minor children;
- provide for children from a prior marriage;
- minimize the impact of transfer taxes;
- efficiently transfer closely held business interests;
- protect assets in the event of a future creditor claim;
- preserve a child’s inheritance;
- protect against spendthrifts;
- disinherit a family member;
- provide for a client’s potential incapacity or the incapacity of a loved one;
- make bequests to specific individuals;
- achieve the client’s charitable wishes.
The list above is not all-inclusive. Each client’s situation is unique.
Our first meeting is designed to understand each client’s family dynamics and individual needs so that we can tailor the best plan to reach each client’s goals.
