Estate planning can be as straightforward as a simple will that names guardians for the minor children of a young couple with modest assets, or a far more complex undertaking that involves intricate documents to achieve tax planning goals.
It involves gathering information about a client’s family, assets and liabilities, any particular estate planning concerns and objectives, including tax concerns, and the development of appropriate strategies and documents to accomplish the client’s objectives.
One should plan for the risk of incapacity during lifetime, where powers of attorney and health care directives are helpful, as well as planning for the disposition of assets at death. We assist clients by preparing wills and trusts (revocable and, where appropriate, irrevocable) and by assuring that appropriate beneficiary designations for life insurance, annuities, and retirement plans are in place.
Some of the documents we prepare are very simple to achieve straightforward goals, and others are much more complex and are often part of a comprehensive plan to achieve long-term tax and estate planning goals. These more complex documents might include generation skipping planning, charitable goals, complicated gift plans that rely on leveraged techniques, or planning for the disposition of special assets.