For many people, contemplating the inevitable and preparing a will and estate plan can seem overwhelming, depressing, and even unnecessary. The sad truth is that a whopping 51% of Americans age 55 to 64 do not have wills, according a 2014 survey by Rocket Lawyer. Richard Eisenberg, a contributor to forbes.com, calls this the “Ostrich Approach to Estate Planning,” and we have to agree with him.
If you die without a will, or “intestate,” the government is charged with the important decisions of how to divide up your assets, and even who will be named guardian of your minor children. Probate can be a long and drawn-out affair that can take a serious toll on your family relationships. To avoid this undesired fate, it is critical to get your will in order — and we can help you do it.
Nobody knows your assets, your business, and your family like you do. Which family members, business associates, or charities deserve portions of your hard-earned estate after your passing is a deeply personal decision that shouldn’t fall into anybody’s hands but your own.
If you don’t know how to get the estate planning process in motion, we are available to guide you. Whether you need a complete estate plan, a simple will or trust, a succession plan for your business, or a power of attorney, Glenn can put together a legal plan and documentation that will spare your heirs considerable heartache. It is no secret that disputes over inheritances are one of the leading causes of family feuds and estrangements. Don’t let that happen to your family.
It’s not too late to put together a plan to ensure that your wishes are followed with respect to your minor children, monetary assets, charitable distributions, and other considerations. Glenn can help you work out the financial and tax implications of various scenarios, helping to establish trusts to provide greater control over distribution of larger estates.
Below is a quick reference guide to the services we provide in the area of probate law:
Estate Planning – Will preparation, establishment of trusts to protect assets, strategies to avoid taxation, and guidelines for who and when your heirs have access to the assets you have left them.
Power of Attorney – Determination of who should be your representative should you fall ill and be unable to communicate your wishes for medical care or financial decisions.
Probate – Legal representation in the event that your estate goes into probate for court-approved dissolution.
Business Succession Planning – Strategies for exiting your business under the most favorable terms should you unexpectedly die or become incapacitated.
The better prepared you are now, the less stress you and your family will be under if you suddenly fall seriously ill or get into an accident. If your life is at stake, unfortunately, there will be plenty of more pressing issues to deal with. To find out how estate planning can help you, contact our office for a free initial consultation, where you will learn about the benefits and costs of pre-need estate planning.