In order to protect your hard earned savings and in an effort in building up a retirement program for business, it is important that you consult with an attorney for an effective estate plan and/or business plan. The estate plan is essentially a blue print of your resources and what you wish to do with them. It can include taking care of your children. It can include setting up a trust if necessary. It could include a standard will. It may include having a Power of Attorney to take care of a loved one or you can have a Living Will or Advance Directive.
The important thing is that your wishes be taken into account upon your death. In general, there is an estate that may need to be probated. Individual tax returns as well as estate tax returns may need to be filed. Inheritance tax returns may need to be filed and you can obtain certain discounts on the same with proper and timely filings and payment.
We have strategic alliances with specialized elder care attorneys and accountants available. Give us a call to review or draft your wills and estates document to ensure what will happen when you pass away is what you want to happen.
Contact our law firm for sound legal advice about Wills & Estates.