| ABOUT ESTATE PLANNING |
Proper estate and retirement planning can ensure that your financial resources continue to take care of you and your loved ones without giving up control of your property.
We use a different definition of estate planning than most estate planning attorneys. In our practice, estate planning, is defined as:
I want to control my property while I'm alive and well;
Plan for me and my loved ones if I become disabled;
When I'm gone, I want to give: what I have, to whom I want, when I want, the way I want;
And if I can, I want to save taxes, fees, costs, all at the lowest predictable overall cost to me and those I love.
Did you know you can lose control of your hard-earned assets and privacy and your children could lose up to 50% of their inheritance with estate taxes and probate costs? These unnecessary costs need not rob your children and grandchildren of your hard-earned assets.
A properly drafted will based or trust based estate plan can protect your children's inheritance and protect your estate against catastrophic illness.
Estate Planning need not be confusing. Estate planning should be comforting, in the sense that you know your family will be properly cared for in your absence, or upon disability.
These issues and many more have arisen from our clients. An effective will based or trust based estate plan should:
- Reduce Taxes
- Minimize or avoid the expense and delay of probate
- Document your wishes
- Prevent family conflict
- Provide protection with Medical and Financial Durable Powers of Attorney
- Preserve your independence and freedom to make choices
Problems With Traditional Estate Planning Approaches
Traditional approaches
can have significant drawbacks. We will look at these commonly used approaches
to see if they satisfy our planning goals and definition.