Basic and Advanced Estate Planning

Regardless of the size of an estate or a client's family situation, every individual requires a basic estate plan which is typically comprised of the following three documents:  (1) An Advanced Health Care Directive (comprised of a Living Will and Medical Power of Attorney); (2) a Durable Power of Attorney(taking care of financial issues during lifetime); and (3) a Last Will & Testament (depending upon the situation, some clients receive a Will and Revocable Trust arrangement). 

Once a basic plan is in place, a client's needs may require more advanced planning, depending on the size of the estate, the types of assets in the estate or the client's family situation.  These needs are assessed and the appropriate estate planning tool is utilized, which may include Trusts (irrevocable or revocable); Family Limited Partnerships (geared towards business succession); Family Charitable Foundations (geared towards charitable giving), as well as other estate planning tools.

One particular trust that our firm specializes in is a Family Legacy Trust.  This Trust lasts multiple generations and protects inherited assets from creditors and a divorcing spouse (providing asset protection) as well as ensuring that assets provided to future generations are free from Federal Estate Tax.