Don’t put off drafting your Will, setting up a trust, assigning a Power of Attorney or Health Care Proxy for one more day! Regardless of your age, whether you are just starting a family, or looking to retire soon, knowing where your property is going and how to protect it is crucial. Toscani Law Firm has the knowledge and ability to draft your will, trust, power of attorney, health care proxy, and more. Further, as state and federal laws change, these valuable documents should be frequently reviewed and updated to make sure your assets and rights are protected.
The process of putting into order your papers, possessions and directives for life’s end requires many important decisions that are often tied to strong emotions involving family, friends and personal experience. It is important to have guidance and assistance that is not only knowledgeable and experienced, but also trustworthy and sensitive to your needs, objectives and time of life.
Our trusts and estates attorneys work closely with our clients to prepare wills, living wills, trusts, powers of attorney, and other documents to fulfill their individual needs. We assist in minimizing the impact of taxation on assets; help develop expeditious and cost-effective plans for the disposition of assets (during lifetime or at death); and handle all administrative aspects of estates, trusts and guardianships. We routinely advise clients on estate administration and probate law and opportunities to reduce administrative and legal costs in these areas.
Updating your Estate Plan
Your estate plan should be updated periodically during your lifetime to address your estate planning goals during different stages in your life. If you have young children, an appropriate estate plan should include naming guardians, creating a guardianship and establishing appropriate trusts for your minor children. You also want to secure proper life insurance coverage and implement expertly drafted estate planning documents, including a last will and testament, durable power of attorney and advance health care directive. When you reach middle age, you may need to add a credit shelter trust to your will and perhaps an irrevocable life insurance trust to modernize your estate plan.
If you are fortunate enough to retire with substantial capital, you may want to take advantage of one or more of the many-sophisticated estate planning techniques, which Toscani Law Firm use to effect a reduction of the estate tax burden on your heirs.