Combining large firm expertise
with small firm attention
Estate Planning and Probate
Estate Planning revolves around family dynamics. Do we treat all children alike? What about a child who has spousal problems? How do we handle a child with a substance abuse issue? Is one child at high risk for being sued, such as a medical doctor? Which child is best able to carry out end of life decisions for the parent? Who is the best choice for a guardian? Is this a second marriage?
Estate Planning also revolves around Estate and Income Taxes. In appropriate circumstances, we might discuss the use of a Self Cancelling Installment Note, a Private Annuity, a Sale to a Grantor Trust, a GRAT (Grantor Retained Annuity Trust) and a QPRT (Qualified Personal Residence Trust). In other situations, we might discuss an ILIT (Irrevocable Life Insurance Trust) or a gifting program. For the right individual, a Private Foundation or a CRT (Charitable Remainder Trust) or a CLT (Charitable Lead Trust) may make sense.
Perhaps more than any other area of law, estate planning and probate touch on virtually all areas of the law. An attorney who does this type of work must know about Income Tax, Estate Tax and Estate Tax Liens, appraisals and business valuations, real estate, mortgages, pension plans, IRA rollovers, contracts, torts, leases, etc.
Here is a partial list of our services:
- Preparation of Wills, Revocable Trusts, Durable Power of Attorneys, Health Care Surrogates, and Living Wills.
- Preparation of GRAT, QPRT, SCIN, Private Annuity, Sales to a Grantor Trust, etc.
- Creation of Private Foundation with IRS approval.
- Formation of CRTs and CLTs.
- Preparation of an ILIT.
- Probate of Decedent’s Estate; Representation of Personal Representative.
- Homestead, Elective Share, Family Allowance, etc. issues.
- Estate Tax issues, IRS Form 706, etc.
- Representation of Beneficiary of an Estate or Trust.
- Principal and Income Act issues.
- Creditor Claims.