Estate planning is much more than just drafting wills. It involves life as well as death planning. Whether you believe a terminally ill person should be allowed to live at all costs, or that their feeding tube should be removed on the grounds that quality of life is the standard, we can all agree that we don't want to place our loved ones in the position of having to make that decision. Our firm can provide you with Advance Health Directives and HIPAA Authorization Forms that will assure you and your family are not placed in the same predicament.
For those individuals that own their own businesses or have real estate holdings, there is the issue of how and when to pass it on to the next generation – while treating all family members fairly. Those individuals with significant wealth may be concerned about how to protect that wealth from creditors – as well as from divorcing spouses. Our firm specializes in planning for the wealth transfer and asset protection needs of business and property owners as well as accomplished professionals.
Families with disabled children and grandchildren need to address the issue of how to preserve any government benefits the disabled beneficiary may be entitled to while also setting aside a nest egg to provide for those needs that are not covered through these programs. For those that did not plan ahead, there is the issue of how to preserve an inheritance for a disabled beneficiary (through use of a trust reformation or a (d)(4)(A) special needs trust or (d)(4)(C) pooled trust). Finally, there is the issue of how to preserve government assistance for a disabled beneficiary who has received a legal settlement relating to his or her injuries. Our firm has substantial experience in assisting disabled individuals to preserve their government benefits.
There is also the issue of how to encourage family members to become productive members of society and how to discourage unproductive behavior, possibly through the use of incentive provision in a trust. Many individuals also want to benefit their favorite charities during life and/or at death. We can help you structure your estate plan in such a way to benefit the charity and to encourage productive behavior from your children and grandchildren.
Of course, an element of estate planning has always been that of probate avoidance and the reduction or elimination of estate taxes. We can show you how to reduce or eliminate any estate tax and also avoid probate. Where there is disagreement among family members, there may be issues relating to the mediation of the dispute, and in some cases – litigation may be required. Our firm also will represent you in a will contest or other probate litigation.