Estate Planning involves a combination of various legal instruments, such as Wills, Trusts, Powers of Attorney, and Living Wills, as well as Lifetime Transfers, Gifts, and Beneficiary Designations.
The practice of Estate Planning is more than just simply the drafting of a last Will and Testament. In reality, the process of Estate Planning consists of preperations beyond instructions merely about who receives what upon your death, or the reduction of taxes. Of course a fully comprehensive Estate Plan does address the disposition of assets and the reduction of estate and inheritance taxes to the lowest amount possible. However, a plan should also provide for the administration and protection of your assets during your lifetime, as well as for decision-making in the event of a disabling injury or illness, through a durable power of attorney, living will, and possibly a living trust.
The need for Estate Planning is not limited to just the wealthy. By preparing for life’s uncertainties, a solid Estate Plan can ensure stability for your family, protect what you spent a lifetime building, and help support your loved ones after you’re gone. A fully inclusive Estate Plan should also give direction and authority to trusted family members or loved ones in order to care for you should you become incapacitated.
The Law Office's range of Estate Planning Tools and Services include:
Powers of Attorney
Non-Traditional Couple Planning Techniques
Estate Tax and Inheritance Tax Planning
Special Needs Planning
To learn more about Estate Planning, check out our resources, or contact us to schedule a free consultation.
Michael J. Girardi
Estate Administration is a process that involves a wide range of duties on behalf of the Executor or Administrator. These responsibilities include collecting, valuing, and protecting the estate’s assets, making payments to creditors and receiving collections from debtors, the payment of various taxes, and the distribution of the assets to the heirs and beneficiaries of the estate.
To learn more about Estate Administration, check out the resources below, or contact us to schedule a free consultation.