Prepare Now To Protect Your Legacy In The Future
If you have worked hard to build your estate and hope to leave a legacy behind that you can be proud of, the right estate plan is key to reaching your goal. A comprehensive estate plan is more than just a simple will. Your plan should take care of you as you age, as well as your assets. A skilled attorney can help you map out exactly what you need to achieve your personal and financial goals for your later years and the loved ones you leave behind.
At Levin & Brend, P.C., our attorneys understand the importance of the right estate planning solutions. Our estate planning law firm has been assisting clients with their financial futures since 1975. Many of our attorneys have degrees related to accounting and finance, in addition to their legal degrees. We understand the concept of long-term planning, including the tax advantages of different options.
Pieces Of The Estate Planning Puzzle
An estate plan is not a single document any more than a puzzle is a single piece. Your plan should consist of multiple goals for aging well and remaining in control of your health and wealth. To that end, we often recommend our clients consider the following tools often used in an estate plan:
- Last will and testament – A good starting point for laying out how you wish to disburse your assets upon your death, and your will can name an executor, appoint a guardian for minors, and identify your beneficiaries.
- Trusts – They come in various shapes and sizes, depending on your needs and your goals, but you can establish them during your lifetime, and they can often allow you to avoid probate and control how the money is used later.
- Powers of attorney – As you age, you may reach a point where you need assistance with financial decisions. Now is the time to identify a trusted individual to help you when you need it.
- Living will and durable power of attorney for health care – These documents allow you to express your wishes for your health care when you can no longer express them on your own.
- Gifting and charitable giving – We will use our tax knowledge to help you make strategic decisions about gifts you make during your lifetime.
Knowing what tools you have available is the first step, but understanding how to use these tools is the real key to achieving your long-term goals. Our extensive experience with tax law, finances and asset valuation can give you an edge when it comes time to make your estate plan.
Discuss Your Goals With Us
People decide to create their estate plans for various reasons. Perhaps your financial planner recommended it, or you recently retired. Perhaps you just faced a major life change, such as a death in the family or a divorce. Whatever your reason, now is the right time to start planning.