Estate Planning is the MANAGEMENT of your assets during your lifetime and the transfer of your assets at death. It is also a MEANS to fulfill your personal needs and wishes.
Estate Planning can involve:
-
A WILL: A written document that fulfills your wishes in the transfer of assets at the time of death.
-
TAX PLANNING: The management of both income and estate taxes to save tax dollars.
-
POWER OF ATTORNEY: A document that designates a person to act for you during your lifetime, if necessary.
-
HEALTH CARE DIRECTIVE: A document that directs what health care you wish in the event of terminal illness and who can make decisions for you, if necessary. It also expresses your preferences regarding your health care provider, organ donation, and burial.
-
TRUST: A document that allows property to be held during your lifetime or after your death for a designated beneficiary such as minor children.
-
ESTATE ASSET ANALYSIS: Analysis of your estate to determine the best way to hold title to your assets, to minimize taxes and to meet your objectives.
-
GIFTING: Tax-saving techniques that allow you to give assets to charities or individuals during your lifetime.
-
ANTENUPTIAL AGREEMENTS
-
MEDICAL ASSISTANCE PLANNING
If you can answer yes to any of the following questions, you should have an estate plan:
-
Do you want to minimize taxes?
-
Are you married with minor children?
-
What if you became incapacitated?
-
Do you want to select who manages your affairs if you can’t?
-
Is there a potential for conflict among your family?
-
Will your in-laws or your children’s in-laws affect your plan?
-
Do you want to provide for someone who has special needs?
-
Do you want to make gifts to charities?
The attorneys at Frundt & Johnson, Ltd. will work with you to establish your family objectives, arrange your assets ownership and create the documents to make your plan work with the lowest possible tax consequence.
|
Frundt & Johnson attorneys practicing in this area of law:
|
|