Wills, Trusts & Estate Planning
It is important that all of your affairs are in good order. Updated wills, powers of attorney, healthcare directives and living wills are essential. Many cases also involve guardianships, special needs trusts, revocable and irrevocable trusts or planning for assisted living and personal care facilities. We can assist you with all of your elder care and estate planning needs. Please call to schedule a consultation so we can help.
A trust can help you set aside money for loved ones and help your family possibly avoid probate after you pass away. There are many different types of trusts, including special needs trusts, irrevocable life insurance trusts, testamentary trusts and trusts for college education. At Walker, Connor & Spang, LLC, our attorneys will work with you personally to help you determine what kind of trust meets your estate planning needs.
The estate planning decisions you make today will affect the tax burdens your loved ones will face after you pass away. The goal of estate planning is to minimize the time and expense of probate while maximizing what your beneficiaries and heirs receive from your estate. Minimizing unnecessary tax exposure is a legal objective that must be handled with care and precision. There are a number of tax-saving strategies we can consider when preparing your estate plan. How the assets are titled can have significant tax implications. We know that no two clients are alike. At Walker, Connor & Spang, LLC, our attorneys will work with you personally to gain an understanding of your estate planning and tax goals, while protecting you from unnecessary risk and liability.
Wills & Powers of Attorney
Estate planning is vital for people of all ages to ensure that their final wishes are followed and probate is simplified. The attorneys at Walker, Connor & Spang, LLC, have extensive experience creating estate plans that facilitate the handling of taxes, wills, business succession, insurance, property, and trusts.
Critical estate planning documents include:
- Powers of Attorney for Healthcare and Property – Powers of attorney are the easiest and least expensive means of disability planning. Everyone should have one. If a person becomes physically or mentally incapacitated without a power of attorney for healthcare or property, the court will appoint a guardian to handle all health care and financial decisions for you on your behalf. The guardian appointed may not be the trusted family member or friend you would have chosen.
- Revocable Living Trusts – Revocable living trusts are an estate planning tool that helps manage assets before death. These trusts can help avoid probate and assist with asset management. Trusts also can permit a designated family member, not the court, to determine if a person is incapacitated and to act as trustee if the client cannot manage the trust.
- Wills – Every adult should have a will to ensure property is transferred according to his or her wishes after death. Without a will, the Probate Court directs to whom the assets will be distributed. Wills are particularly important for parents of minor children so that they can appoint guardians who will care for the children if both parents pass away before the children are eighteen years old.