Probate and Estate Tax Avoidance: The Living Trust
Our experience and expertise often enables our clients to reduce or eliminate death taxes and avoid probate. For instance, did you know that by setting up a living trust, you may avoid probate? It is often highly desirable to avoid Probate, because Probate can be a very long, drawn out, expensive and very public process.
Much like a will, a living trust describes what happens to your property in the event of your death. While you are alive, you remain in complete control and have the power to change the trust at any time. Setting up a living trust allows you to avoid the expense and long delays of probate, and may even save you money on estate taxes. Talk with us to see if this might be an option available to you.
Other Important Estate Planning Documents.
Another important reason to meet with an estate planning lawyer is to set forth in a legal document, your wishes and directives regarding your healthcare and finances. These documents are critical in the event you are rendered unconscious or otherwise unable to state your wishes. Our lawyers can help you draft medical powers of attorney, financial powers of attorney and living wills that will help your family and medical providers make important decisions if you are unable to do so.
Can I Set All Of This Up On My Own?
There is an old adage that you could perform surgery on yourself, but why would you want to? While that is an extreme example, it coveys a strong point: Estate Planning, like surgery is a very complicated and highly specialized and requires someone to be continually up to date on frequent changes taking place. Our knowledgeable and experienced attorneys understand how to apply these difficult laws to individual situations, to come up with a plan that not only best suits you, but also best protects you.