Whether to protect your business or your family’s future, you will need an estate plan that is as individual as you are and reflects the unique circumstances of your situation, taking into account the overall tax consequences and administration expenses involved.
The experience level of Krigel and Krigel’s estate planning attorneys enables us to offer the high-quality service you need in a cost-effective manner. Our estate planning attorneys understand the various forms of ownership, classes of assets, legal documentation, and numerous related tax issues essential to developing a vital and comprehensive estate plan. After reviewing your assets and your goals, our estate planning attorneys will guide you through the document-drafting and review process, and help you understand how to title and transfer your assets into any newly established trusts.
Your estate plan may include the following legal documents:
- A will or a trust. While maintaining a will is advisable, a trust is also a powerful tool for managing your assets, ensuring that your heirs will be able to avoid the probate process.
- Power of attorney. This document allows you to designate someone to act on your behalf for financial purposes. This may be a current power of attorney or a springing power of attorney that does not go into effect unless you are incapacitated.
- A health-care directive. This document outlines your wishes regarding life-prolonging medical procedures in the event you are in a vegetative state or in a terminal condition that offers no hope of significant recovery; the document also names the agent to act for you in making decisions consistent with your directive while you are incapacitated.
The lack of a comprehensive estate plan can create additional legal issues for you and your family. Should you find yourself in such a situation, perhaps facing probate court, our attorneys are also able to help.