Estate Planning and Planned Giving
Estate Planning, Asset Protection and Charitable Planned Giving
On the most basic level, estate planning is nothing more than the process of establishing a plan for the security and transfer of your assets in the event of your death or disability. This process involves the discussion and analysis of the assets you own, the manner in which you own those assets, the debts you may have incurred, your financial needs in the near, mid- and long terms, your financial goals and your family situation. Once that analysis is thoroughly performed and evaluated, a plan is formulated to meet your goals.
Insofar as most people’s personal and financial lives change over time, your relationship with your estate planning lawyer is a long term relationship that must be built on a foundation of trust, a relationship not unlike your relationship with your accountant or financial advisor. I understand the importance of gaining and keeping your trust.
A thoughtfully considered estate plan should address every conceivable possibility whether your issues involve the minimization of taxes upon your death, providing for your spouse or partner if you predecease her/him, providing for your minor children or grandchildren in case something happens to you, the protection of your assets from aggressive creditors or a greedy relative, ensuring that your spouse or life partner does not end up in business with your business partner or his/her spouse if you die, and countless other variables, many of which you may not have thought of or contemplated. My job is to help you navigate those sometimes difficult waters and assist you to devise the most efficient estate plan to suit your needs, goals and objectives in life.
An estate planners’ toolbox contains many of the tools familiar to most people, including the Last Will and Testament, Revocable Living Trusts, Durable Powers of Attorney, Health Care Surrogate Designations and Living Wills. Some of you may have even heard of some of the more “sophisticated” estate planning tools, such as Irrevocable Life Insurance Trusts, Family Limited Partnerships, Charitable Remainder Trusts, Grantor Retained Annuity Trusts, Gifting Trusts, Dynasty Trusts, Qualified Personal Residence Trusts and Special Needs Trusts, to name a few. But, alas, these are just tools, albeit often complicated to learn and understand.
My job is to assess your needs and to use those tools, and only those tools that are necessary and to effectively communicate to you how the use of those tools can help you achieve your estate planning goals. I will help you craft the most efficient estate plan possible to make your life and the life of your loved ones as full as possible.