Estate planning is the process of anticipating and planning for the disposition of an estate during a person’s life. Effective estate plans eliminate the risk of future uncertainty and maximize the value of your estate by reducing taxes and other expenses.
After establishing our client’s specific needs and objectives for the disposition of their estate, a licensed Attorney will draft a will and/or a trust to begin the planning. Additional estate planning documents include a Power of Attorney and a Advanced Health Care Directive.
Many people avoid the thought of creating an estate plan. The inevitability of the end of one’s life or potential incapacity is overwhelming, and can be very uncomfortable to confront. Some people think they can wait till they retire to begin an estate plan or they do not have enough money to require an estate plan. Unfortunately, we cannot predict how long we will live, and illness and accidents happen at all ages. Further, we know the conflict and distress that family members can experience after the death of a loved one who failed to prepare an estate plan for the disposition of their assets and property.
This is why it is important for everyone to have an estate plan, and at Martin Estate Law we can help you determine whether a Will-based estate plan or a Trust-based estate plan is best for you and your family.