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Creating an estate plan requires considering various factors unique to each individual and family. We are dedicated to working with you to develop an estate plan that best meets your goals and objectives while at the same time preserving your assets for generations to come.  

The estate planning attorneys of Kramer, Green, Zuckerman, Greene & Buchsbaum, P.A., are here to assist you with every aspect of your estate planning needs. We will strive to build a comprehensive estate plan that meets your needs and fulfills all necessary legal requirements. Contact us today at (954) 966-2112 or online so that we can start on your estate plan.  

Factors to Consider in Estate Planning  

Family Dynamics 

Many questions may arise as you determine how to best provide for your children in your estate plan. Those decisions are likely to be even more crucial and complicated when you are part of a blended family. Some of the questions that you may wish to consider as you form your estate plan may include: 

  • Do we treat all children alike?   
  • What about a child who has marital 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 for our minor children?   
  • Who is the best choice for a guardian for a parent who becomes incapacitated? 
  • Is this a second or subsequent marriage? 

Answering these questions is necessary to create the right estate plan for you and your family. These answers may vary widely from one family to another, and these answers also may change over time as events occur and problems develop. What is right for one family may not be the correct answer or approach for another family in the same situation.  

Estate and Income Taxes 

When drafting an estate plan, you also must consider the potential impact of estate and income taxes. Fortunately, various estate planning mechanisms exist to help reduce or eliminate tax liabilities. In appropriate circumstances, we might discuss the use of the following estate planning vehicles: 

  • Self-Cancelling Installment Note 
  • Private Annuity 
  • Sale to a Grantor Trust 
  • Grantor Retained Annuity Trust (GRAT) 
  • Qualified Personal Residence Trust (QPRT)    
  • Irrevocable Life Insurance Trust (ILIT)  
  • Private Foundation 
  • Charitable Remainder Trust (CRT) 
  • Charitable Lead Trust (CLT)  
  • We Offer Comprehensive Estate Planning Services

Estate planning touches on virtually all areas of the law. An attorney who performs effective estate planning 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, and more.    

We can provide you with a full range of estate planning services at Kramer Green, including: 

  • Preparation of Wills, Revocable Trusts, Durable Power of Attorneys, Health Care Surrogates, and Living Wills 
  • Preparation of GRATs, QPRTs, SCINs, Private Annuities, and Sales to a Grantor Trust 
  • Creation of Private Foundations with IRS approval 
  • Formation of CRTs and CLTs 
  • Preparation of ILITs 
  • Filing for Probate of Decedent’s Estate and Representing Personal Representatives 
  • Handling issues related to the Homestead, Elective Share, and Family Allowance 
  • Handling issues related to Estate Tax and IRS Form 706 
  • Representing Beneficiaries of Estates or Trusts 
  • Handling issues related to the Principal and Income Act  
  • Filing or Disputing Creditor Claims 
  • Maintaining and Updating Your Estate Plan 

Even after you have your estate plan in place, you should periodically review and update your estate plan as time goes on and circumstances change. Otherwise, you risk your estate plan not genuinely reflecting your current situation, needs, and desires.  

When you undergo a significant life change, you should always check with your estate planning attorneys to determine whether you should make any changes or adjustments to your estate plan. Major life events that may trigger a change can include: 

  • Marriage 
  • Divorce 
  • Birth or adoption of a child 
  • Death of a family member 
  • Moving to another state 
  • Opening or closure of a business 

 

Maintaining your estate plan is as essential as creating it in the first place. We are here to help you go over your existing estate plan from time to time as needed. We can outline any potential changes you may need to make and help you make the best decisions for yourself and your family.  

Call Kramer Green for Assistance with Your Estate Planning Needs

Our Hollywood estate planning lawyers can help you protect your legacy and your loved ones by helping you create an individualized estate plan that meets your needs. Every family needs an estate plan, and we are here to help you achieve that goal. 

Prepare for the future and protect your family by developing and maintaining the right estate plan for you. Contact us today at (954) 966-2112 or online so that we can start on your estate plan.

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