Estate Planning is the critical and often overlooked process of ensuring that all of your assets (property, finances, and healthcare wishes) are accounted for upon your death, and your posthumous desires be honored in accordance with your wishes. Estate Planning also involves the decision of how you wish your assets to be distributed after your death. We assist clients in developing a plan that is customized to fit to you, your family, and your financial interests.
There are several critical benefits to Estate Planning. These benefits include:
- Avoiding Probate – a lengthy, time-consuming, and expensive process
- Protection of your assets
- Control of your Estate
- Reduction of Estate taxes
- Flexibility – “revocable” trusts can be amended or annulled as many times as necessary
Probate administration is the process which transfers ownership of a deceased individual’s assets to his or her beneficiaries. First, the deceased individual’s assets are identified and gathered, debts are then paid off, and the remaining assets are distributed to the beneficiaries. This process is required when estate planning has not been implemented prior to death. The Firm will assist by representing you in each step of the probate proceedings and by drafting and filing all proper documentation required by the court.