Minimize Worry with a Complete Estate Plan
Estate planning is the process of assessing your assets and determining to whom, among your family, friends or favorite charities, you would like to leave specific assets and gifts. Creating a proper estate plan or setting up trusts takes your disbursement goals into account, the state or federal tax implications of your disbursements, and the needs of your family members and beneficiaries.
Estate planning requires an intimate knowledge of federal and state estate tax rules. The attorneys at Grady H. Williams, Jr., LL.M., Attorneys at Law, P.A., have been creating and executing estate plans for the bulk of their careers. Their combined experience as estate planners position them to serve your needs.
When executing an estate plan, your attorney should ensure that all of your needs and desires are being met. Acting as your estate planner, your attorney should take special care to explain the processes of preparing wills, trusts, probate, and trust administration. Once you understand how your will affects the overall probate process, you are able to make better informed decisions about your estate plan.
Quite often an estate planning attorney makes use of a trust that is created in your last will and testament. Using this type of a trust, known as a testamentary trust, requires local experience with trusts and estates. The interplay between your overall estate plan and your associated trusts can determine the tax liability, asset protection, and the speed with which assets move to your family or friends.
We can help you understand how certain types of trusts are designed to fulfill specific needs. If you have a child or family member who will require specific and long-term medical attention and care, for example, a trust can be formed to serve that need. This kind of special needs trust is designed to provide the maximum benefit possible to your family member, without limiting other avenues of help.
“Don’t be a victim of one size fits all planning. Know your legal rights about elder law and estate planning and act accordingly!”